Category Archives: Realtor Risk Management

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The FIRPTA Affidavit: A Buyer’s Only Safe Harbor

Posted on by Phil Querin

A Wrong-Headed Law? Most people have never heard of the Foreign Investment in Real Property Tax Act, commonly known as “FIRPTA” – unless they have been involved in the “disposition” (i.e. sale/purchase)[1] of U.S. real property from a “foreign person”.[2] The FIRPTA law says that if the seller is a “foreign person”, the “transferee” – […]

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Posted in FIRPTA, Legislation - Federal, Miscellany, Real Estate Laws, Realtor Risk Management, Tax Issues | Tagged

QUERIN LAW: Co-ownership of Real Property in Oregon

Posted on by Phil Querin

What follows is a brief summary of the various ways two or more persons can hold title to Oregon real estate. Note, the following information is not to be construed as legal advice or a solicitation for legal representation. It is informational only and not intended to replace legal or estate planning advice from your […]

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Posted in Broker Risk Management, Miscellany, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors | Tagged

The Professional Inspection Report Conundrum

Posted on by Phil Querin

The Licensed Professional Inspections portion of Section 10 of the 2018 OREF Statewide Residential Sale Agreement form, contains the following provision: Buyer shall not provide all or any portion of the inspection reports to Seller unless requested by Seller or Seller’s Agent. However, at any time during this transaction, or promptly following termination, upon request […]

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Posted in Broker Risk Management, Miscellany, Professional Inspection, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors | Tagged , ,

Planned Communities, Townhomes and Condominiums – What’s The Difference?

Posted on by Phil Querin

While most people are familiar with condominium structures, can the same be said of townhome developments? How do the two differ? Do townhomes have common and limited elements? What if the home is not a condo or townhome, but located in a “planned community”? How do planned communities differ from condominiums and townhomes?  Avoiding the […]

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Posted in Condos, Fannie&Freddie, Real Estate General, Real Estate Laws, Realtor Risk Management, Townhomes | Tagged , ,

Available Mortgage Interest Deduction under Tax Cuts & Jobs Act (“TCJA”)

Posted on by Phil Querin

As most taxpayers know by now, the TCJA reduced the available mortgage interest deduction from $1,000,000, to $750,000.[1] Essentially, if one bought a home today and financed $1,000,000 of the purchase price[2] interest on only $750,000 of the loan would be deductible. That’s pretty straightforward. This applies to interest secured by a primary or secondary […]

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Posted in Miscellany, Real Estate General, Real Estate Laws, Real Estate/Commercial, Realtor Risk Management, Tax Issues | Tagged , ,

Easement Essentials For Oregon Homeowners

Posted on by Phil Querin

Generally. An easement, in its most common and basic sense, is a right of use, e.g. to cross another’s land, to lay utility and sewer lines, to provide or share use for ingress and egress to one or more properties, etc. Most easements are “appurtenant”, that is, the landowner with the right of use, and […]

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Posted in Easements, Miscellany, Real Estate General, Realtor Risk Management, Residential Housiing | Tagged , ,

Mortgage Debt Relief Act Extended Through 2018 – Finally!

Posted on by Phil Querin

For a brief history of the multiple extensions of the The Mortgage Debt Relief Act of 2007 (“the Act”), go to my June 2017 post here. I predicted at the time that it would be extended through 2018; but I also predicted that news of the extension would be slow in coming, because this law – […]

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Posted in Broker Risk Management, Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Federal, Miscellany, Real Estate Laws, Realtor Risk Management, Residential Housiing | Tagged , , , , , ,

What An Owner’s Policy Of Title Insurance Doesn’t Cover

Posted on by Phil Querin

Remember, “exceptions” noted in a preliminary title report (“PTR”)[1] or title policy, are the title insurance company’s exclusions from coverage. This means, for example, that if a homeowner suffered a loss arising from an easement shown as an exception on the policy, the title company is not on the hook, since that easement was listed […]

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Posted in Broker Risk Management, Miscellany, Realtor Risk Management, Realtors, Title Insurance | Tagged , ,

After Tax Reform, Are HELOCs Dead?

Posted on by Phil Querin

“Reports Of My Death Have Been Greatly Exaggerated” ~Mark Twain (1835 – 1910) History Revisited. Remember when the Home Equity Line of Credit (aka “HELOC”) was used as an ATM?  Need money for a remodel, new car, kid’s college education, debt consolidation, etc? No problem!  Your bank or mortgage broker was more than willing to […]

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Posted in Miscellany, News You Can Use, Realtor Risk Management | Tagged , ,

Oregon Seller’s Property Disclosure Conundrum

Posted on by Phil Querin

“The way for a person to develop a style is (a) to know exactly what he wants to say, and (b) to be sure he is saying exactly that. The reader, we must remember, does not start by knowing what we mean. If our words are ambiguous, our meaning will escape him. I sometimes think […]

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Posted in Broker Risk Management, Miscellany, Property Disclosure, Q-Law Articles, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors, Residential Housiing | Tagged , , ,
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