Intestate Asset Identification, Inventory, and Distribution in Oregon

Disclaimer: This article provides general information about Oregon intestacy law. It is not legal advice. Consult a qualified attorney for guidance on your specific situation.

Detailed Answer

1. Identifying Real Property and Personal Assets

After someone dies without a will in Oregon, the personal representative (called the “personal representative” under ORS 114.105) must locate and identify all of the decedent’s assets. That includes:

• Real property: Land, structures, condos. You review county land records or the decedent’s deeds. ORS 93.833 defines and records interests in real estate.
• Personal property: Bank accounts, vehicles, household items, stocks, retirement accounts, and digital assets. You examine bank statements, titles, inventory lists, and safe-deposit boxes.

ORS 114.035 provides definitions of “real property” and “personal property” to guide the identification process.

2. Preparing the Inventory

Within 90 days after appointment, the personal representative must file a written inventory with the court that includes:

• Description and value of each asset as of the date of death. (ORS 114.305)
• Estimated fair market value for real estate and personal property.
• Designations of any jointly held property or assets with named beneficiaries (e.g., payable-on-death accounts).

This inventory helps the court and heirs understand the estate’s total value and composition.

3. Distributing Assets Under ORS Chapter 114

Oregon law specifies a priority scheme for distributing intestate estates once debts and expenses are paid:

• If the decedent leaves a surviving spouse but no children, the surviving spouse inherits all real and personal property. (ORS 114.225)
• If the decedent leaves both a surviving spouse and children from that marriage, the spouse inherits the first $100,000 plus half of the remaining estate; the children split the balance equally. (ORS 114.225)
• If the decedent leaves children but no spouse, the children inherit everything in equal shares. (ORS 114.235)
• If the decedent leaves neither spouse nor descendants, assets pass to parents, then to siblings or their descendants, following the order in ORS 114.245 and ORS 114.255.
• If no relatives exist, the estate escheats to the State of Oregon. (ORS 114.265)

Jointly held property with rights of survivorship and assets with designated beneficiaries pass outside the intestate scheme.

4. Key Statutes and Procedures

• ORS 114.035 – Definitions of estate terms (link: https://www.oregonlegislature.gov/bills_laws/ors/ors114.html#ORS_114.035)
• ORS 114.105 – Appointment and duties of personal representative (link: https://www.oregonlegislature.gov/bills_laws/ors/ors114.html#ORS_114.105)
• ORS 114.305 – Requirement to file an inventory (link: https://www.oregonlegislature.gov/bills_laws/ors/ors114.html#ORS_114.305)
• ORS 114.225–ORS 114.265 – Order of distribution (link: https://www.oregonlegislature.gov/bills_laws/ors/ors114.html#ORS_114.225)

Helpful Hints

• Start asset searches early by checking safe-deposit boxes, digital records, and mail.
• Use professional appraisers for high-value real estate and collectibles.
• Keep detailed records of valuations and filing dates to avoid court delays.
• Consult an estate attorney when complex assets (cryptocurrency, business interests) arise.
• Notify potential heirs quickly to reduce disputes.