[WSBAPT] title question

Thu Jun 18 12:44:05 PDT 2015

Not having done one of these myself before, I am wondering whether this type of transfer would violate any terms of existing loan documents (if the property is subject to a traditional mortgage)? Perhaps married couples are exempt due to community property laws, but I would love feedback from someone who knows.  Sharing in the title without directly becoming responsible to the lender may contradict terms of the loan. I know that in other contexts, any kind of transfer of full or even partial property rights will often trigger the due on sale clause due to being a violation of the loan terms. 

Thoughts? 

Sent from a mobile device - please excuse typos. 

> On Jun 18, 2015, at 12:13 PM, Vashonlaw <vashonlaw at aol.com> wrote:
> 
> Given recent cases. I would have them both sign a community property agreement and record it. Then I would have him sign a deed from him to him and her, husband and wife, and put as consideration "to create community property." Then I would have her accept the deed, on the face of the deed,  and the status of the property as community property.
>  
> This is if you are really serious about them holding the property as community property and acquiring the benefits attached to that.
>  
> Margaret L. Koch 
> Smith and Koch 
> PO Box O 
> Vashon, WA 98070 
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> vashonlaw at aol.com 
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> -----Original Message-----
> From: Rob Rowley <rob at rowleylegal.com>
> To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Sent: Thu, Jun 18, 2015 10:03 am
> Subject: Re: [WSBAPT] title question
> 
> Setting aside the community property aspects-by having her on title then grants her standing if she should ever seek foreclosure mediation.
>  
>  
> Please note that effective May 15, 2015, my new address is 7 South Howard St., Suite 218, Spokane, WA 99201.  All other contact information remains the same.
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> Robert R. Rowley | Attorney at Law
> 7 S. Howard St, Suite 218
> Spokane, WA  99201
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> From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Sharon Rutberg
> Sent: Thursday, June 18, 2015 9:36 AM
> To: wsbapt at lists.wsbarppt.com
> Subject: [WSBAPT] title question
>  
> Hello, Listmates –
>  
> Clients are a married couple. He purchased the house they live in before they married and only his name is on the title. She helps pay the mortgage. They wish to have it treated as community property.
>  
> We are doing a simple Community Property Agreement stating that the house is their community property (as well as clarifying the status of some other property). Do you see any compelling reason also to create a new deed naming them both as owners? I suppose he would quitclaim to the two of them as a married couple.
>  
> As always, thanks for your wise guidance.
>  
> Sharon
>  
> Sharon C. Rutberg
> Attorney at Law
> 1718 NW 56th Street, Suite 304
> Seattle, WA 98107
> Website: www.sharonrutberglaw.com
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