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Thanksgiving

“Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow.” 

~ Melody Beattie, Author

A Message from OREF Forms Counsel

Is the day after Thanksgiving a holiday?

Brokers may be wondering whether the day after Thanksgiving counts as a business day for purposes of the time periods and deadlines in the OREF #001 – Residential Real Estate Sale Agreement. Both the sale agreement and ORS 696 define business days as days other than Saturday, Sunday, Federal holidays, or Oregon holidays.  Therefore, the day after Thanksgiving does count as a business day.

The following are not business days because they are Federal Holidays or Oregon holidays, or both:

OREF Customer Service

The OREF Portland Office will be closed on November 25th and 26th.

However, our customer service team will be available.

Monday – Friday 8:00 a.m. to 6:00 p.m.

Saturday – Sunday 10:00 a.m. to 4:00 pm.

Disclaimer: On occasion OREF staff, Managers, or Forms Committee volunteers may provide Forms subscribers with general information and education regarding the proper selection and use of OREF Forms. Neither OREF nor its staff, Managers or volunteers are attorneys or are authorized to practice law, and no information or educational materials provided by them are intended to constitute legal, tax, accounting or other professional advice of any kind. All such information and materials are non-legal opinions offered for general educational purposes, and each Forms subscriber must rely solely upon his or her principal broker or personal legal counsel for specific advice and instruction. Brokers and their clients should independently confirm that the Form(s) being used are legally suitable for the purposes intended, and that they are current with respect to all laws and regulations.

Notable Replies

  1. What about the day after Thanksgiving? Some state agencies recognize it as a holiday.

    From OREF Forms Counsel:

    Section 32(5) of the Residential Real Estate Sale Agreement (OREF 001) says “(5) A “business day” shall mean Monday through Friday, except recognized state and/or federal holidays.” There are many closures or “observed holidays” that are not “recognized holidays.” For example, some agencies consider the day after Thanksgiving to be a holiday, and some consider declared days of mourning to be holidays.

    Instead of trying to reconcile all of that, OREF uses “legal holidays,” which are described in statutes: this one for Oregon and this one for the U.S. Keep in mind that these websites have not yet been updated to cover Indigenous Peoples Day (Oregon) or Juneteenth (Oregon and U.S.), but those are now legal holidays due to laws passed this year.

Continue the discussion at discourse.orefonline.com

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