How Can a Former Spouse or Survivor Assert Entitlement to Surplus Funds Following the Owner’s Death or Divorce?
How Can a Former Spouse or Survivor Assert Entitlement to Surplus Funds Following the Owner’s Death or Divorce? Detailed Answer When a property in Oregon is sold at a foreclosure auction or through a court-ordered sale in probate, any sale proceeds exceeding the outstanding debt, liens and costs become “surplus funds.” Under Oregon law, a […]
Read article →How to Distinguish Assets Belonging to a Deceased Person’s Estate from Corporate Assets in Oregon
How to Distinguish Estate Assets from Corporate Assets in Oregon When someone dies, you must separate what they owned personally (their estate) from what a corporation owns. Oregon law treats estates and corporations as distinct entities. This distinction matters for probate, tax, and potential creditor claims. Detailed Answer Under Oregon law, a decedent’s estate includes […]
Read article →What options exist for selling or auctioning personal property to reimburse estate expenses and equalize distributions among heirs?
Detailed Answer As personal representative of an estate in Oregon, you must convert personal property into cash to pay expenses, satisfy creditors, and distribute the balance fairly among heirs. Oregon law provides clear methods for selling or auctioning items, and for equalizing shares. 1. Sale Under ORS 116.163 ORS 116.163 gives a personal representative the […]
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