(1) As used in this section, ‘letter opinion’ means a document that expresses a real estate licensee’s conclusion regarding a recommended listing, selling or purchase price or a rental or lease consideration of certain real estate and that results from the licensee’s competitive market analysis.

Terms Used In Oregon Statutes 696.294

  • Appraisal: A determination of property value.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

(2) The Real Estate Commissioner by rule shall specify the minimum contents of a letter opinion, including but not limited to the distinction between a letter opinion and a real estate appraisal. [2007 c.319 § 3]

 

696.294 was added to and made a part of 696.010 to 696.495 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.

 

[Amended by 1959 c.585 § 1; 1961 c.670 § 3; 1969 c.674 § 17; 1971 c.743 § 409; 1973 c.421 § 50; 1974 c.1 § 25; repealed by 1975 c.746 § 22 (696.301 enacted in lieu of 696.300)]

 

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