(1) Within 14 days of delivery by or on behalf of the facility owner of the notice required by ORS 90.760 (2) or 90.810, a tenants’ association or facility purchase association may notify the owner of the facility in which the tenants reside by certified mail or personal service at the address disclosed to the tenants under ORS 90.305 (1)(a) that the association, or a tenants’ association supported nonprofit organization, is interested in purchasing the facility.
(2) Upon delivery of the notice required by subsection (1) of this section, the owner shall negotiate in good faith with the association or organization and provide the association or organization an opportunity to purchase the facility as the owner would any bona fide third party potential purchaser.
(3) A facility purchase association or tenants’ association actively involved in negotiations with a facility owner may waive or reduce the time periods for notice described in this section. A facility purchase association or tenants’ association may authorize a tenants’ association supported nonprofit organization to waive notice on behalf of the association.
(4) This section, ORS 90.760 (2) and 90.810 do not apply to:
(a) Any sale or transfer to a person who would be included within the table of descent and distribution if the facility owner were to die intestate.
(b) Any transfer by gift, devise or operation of law.
(c) Any transfer by a corporation to an affiliate. As used in this paragraph, “affiliate” means any shareholder of the transferring corporation, any corporation or entity owned or controlled, directly or indirectly, by the transferring corporation or any other corporation or entity owned or controlled, directly or indirectly, by any shareholder of the transferring corporation.
(d) Any transfer by a partnership to any of its partners.
(e) Any conveyance of an interest in a facility incidental to the financing of the facility.
(f) Any conveyance resulting from the foreclosure of a mortgage, deed of trust or other instrument encumbering a facility or any deed given in lieu of a foreclosure.
(g) Any sale or transfer between or among joint tenants or tenants in common owning a facility.
(h) Any exchange of a facility for other real property, whether or not the exchange also involves the payment of cash or other boot.
(i) The purchase of a facility by a governmental entity under that entity’s powers of eminent domain. [1989 c.919 §10; 1991 c.844 §19; 1999 c.222 §1; 1999 c.603 §34a]
Section: Previous 90.765 90.770 90.771 90.775 90.800 90.810 90.815 90.820 90.830 90.840 90.860 90.865 90.870 90.875 90.900 NextLast modified: August 7, 2008