Definitions
RLID Glossary
A transaction between two unrelated or unaffiliated parties, or a transaction between two related or affiliated parties that is conducted as if they were unrelated, so that there is no question of a conflict of interest.
Personal property manufactured home
A personal property manufactured home may be sold or moved as an individual possession, separate from the land on which it is located. It has a separate "personal property" tax account from the "real property" land tax account. The owner of a personal property manufactured home is usually different than the owner of the land.
Real property manufactured home
A real property manufactured home cannot be sold or moved as an individual possession, but is considered to be "real property," and is usually included as an improvement on a real property tax account along with the land. The owner of a real property manufactured home must be the same as the owner of the land on which it is located.
This code is derived from a coding system used by Lane County Assessment & Taxation (A&T) in the property assessment process.
Analysis Code refers to the conditions of the sale. This information can be useful in determining whether or not a sale event is considered a "good sale" or an "arms length" transaction.
In the list below, analysis codes/descriptions in bold indicate those sale conditions that constitute an arms length transaction for comparative sales analyses.
Those codes/descriptions that are also underlined are applied to sales events that are used in the A&T ratio study* (these are also arms length transactions).
*The term "ratio study" refers to the process by which the county Assessment & Taxation department determines real property values for January 1st of the tax year, based on analyses of sales trends.
| ANALYSIS CODES (A&T Validity Code #1): | |
|---|---|
| Code | Description |
| 0 | Unconfirmed sale |
| 1 | Change of use or zoning |
| 2 | Deed does not show warranty of title (quit claim, reserving life estate) |
| 3 | Grantor or grantee is a governmental body (not a government financing agency such as ODVA, HUD, Farm/Home). See also 30. |
| 4 | Grantee is a financial institution (including government agencies, above). See also 30. |
| 5 | Grantor or grantee is a charitable, religious or educational institution. |
| 6 | Grantor or grantee are related parties (either business or family); divorce or property settlement. |
| 7 | Partial interest only; severe deed restrictions so that less than fee title conveyed |
| 8 | Convenience deed (to change name or vesting, create tenancy by entirety) |
| 9 | Trade involved; exchange of properties (not arms length transaction) |
| A | In lieu of foreclosure; to avoid a lien or to terminate right of redemption |
| B | Sheriffs sale or other court ordered sale |
| C | Payoff of contract; exercise of a prior years option |
| D | Data missing |
| E | Single family residential use on higher zoned land (Transitionals) |
| F | Group sale (wholesale or discounted consideration) |
| G | Personal property included in sale price and value cannot be separated |
| H | Non-assessable entities included in sale price (business, orchard, etc) |
| I | Mortgage balance only; assignment of note (no real property conveyed); sellers equity only (notes assumed in addition to recorded sale price) |
| J | Estate sale which is an inheritance or non-market sale |
| K | Re-recording, miscellaneous or insignificant sale in price or value |
| L | Assessed value is by division or consolidation (prorated balance) |
| M | Property sold not same as assessed (new improvement not on roll, bare land sale that has new improvement/site improvements, remodeled, or destroyed). |
| N | Sale includes timber, timberland or forest deferral |
| O | Sale includes mobile home |
| P | Condominium (no land value) sale |
| Q | Building class 107 or 307 improvements only |
| R | Farm deferral or other special assessment on roll |
| S | Partial complete improvement on roll |
| T | Townhouse (has land value) sale |
| U | Resale of foreclosed property |
| V | Confirmed sale |
| W | Sale price adjusted from recorded consideration (add Bancroft liens or back taxes, subtract personal property, add seller's equity, loans, etc) |
| X | On manufactured home sales file only: sale includes real property |
| Y | Appraiser/analyst tried to confirm sale; but, it is still unconfirmed/acceptable |
| Z | Board of Equalization/Ratio Review, Department of Revenue, Tax Court adjudicated value on roll |
Lane County, Oregon
