(2)(a) A port may not purchase real property unless the port first obtains an appraisal of the fair market value of the property from a state certified appraiser who is disinterested in the transaction and independent of the port.
(b) If the appraisal obtained under paragraph (a) of this subsection concludes that the value of the property exceeds $2,000,000, then the port must obtain an additional appraisal of the fair market value of the property before purchasing the property. The appraiser who conducts the additional appraisal must be a state certified appraiser but need not be disinterested in the transaction or independent of the port.
(c) Nothing in this subsection requires the port to purchase the real property at the appraised value.
(d) The appraisals obtained under this section may not be admitted as evidence in any condemnation proceeding.
(3) A port may purchase real or personal property upon a contractual basis when the period of time allowed for payment under the contract does not exceed 20 years.
(4) As used in this section, "state certified appraiser" has the meaning given that term in ORS 674.010. [1971 c.728 §17 (enacted in lieu of 777.115, 777.185 and 777.187); 1973 c.127 §2; 1975 c.43 §1; 1979 c.17 §1; 1991 c.5 §45; 1993 c.201 §1; 2017 c.86 §1]
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.