Contracts
In Oregon, what is an 'indemnification clause' in a property management agreement?
AA clause requiring the tenant to pay for all repairs
BA provision where one party (typically the owner) agrees to hold the property manager harmless from certain claims or losses arising from the management of the property✓ Correct
CA clause requiring the property manager to indemnify tenants against all losses
DA standard OREA requirement for all listing agreements
Explanation
An indemnification clause in an Oregon property management agreement typically requires the property owner to hold the property manager harmless from claims arising out of actions taken in good faith on the owner's behalf. It may also allocate responsibility for legal claims between the owner and manager. These clauses help define the risk-sharing relationship between property owners and their professional managers.
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