[WSBAPT] title question

[Mike Winslow]

Which leads me to the suggestion that when deeding out to create community
property from separate property, or when funding a revocable living trust,
the client should be advised to consider obtaining an endorsement under
their original title policy to insure the transfer.
Can one deeding separate property to create community property obtain such
an endorsement, or do they need to apply for new title insurance coverage?
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
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From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of John McCrady
Sent: Thursday, June 18, 2015 1:35 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] title question
 
My choice of which deed to use for a conveyance should be governed by what
warranties of title I am comfortable making.
 
If I am the insured under an Owner's Policy of Title Insurance, upon my
conveyance of the land the coverages of my policy will continue only to the
extent to which I am liable under covenants of warranty in my deed out.  
Using a Bargain and Sale Deed, I warrant title only as follows:
"That the grantor was seized of an indefeasible estate in fee simple, free
from encumbrances, done or suffered from the grantor, except the rents and
services that may be reserved, and also for quiet enjoyment against the
grantor, his or her heirs and assigns.."
So my title policy would continue to protect me to the extent that I suffer
a covered loss under those warranties.  Of course under its terms the title
policy would not cover me for most matters "created, suffered or assumed" by
me.
 
On the other hand, the Statutory Warranty Deed includes more complete
warranties of title, so my title policy coverages would continue to protect
me for a more extensive list of matters.
 
 
 
John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98466
253-476-5721
 
From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Mike Winslow
Sent: Thursday, June 18, 2015 11:41 AM
To: 'WSBA Probate & Trust Listserv'
Subject: Re: [WSBAPT] title question
 
John,
Do you recommend use of a Bargain and Sale Deed. I have heard that this or a
warranty deed will "preserve" prior title insurance coverage, whereas a QCD
will affect prior title coverage. I understand that there is no new title
coverage invoked by use of a warranty deed.
Mike
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
This message is from an attorney, so it's confidential. If you are not the
intended recipient, it's too late to stop reading this message, but you may
not use it for any improper purpose. Huge Disclaimer available upon request.
 
From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of John McCrady
Sent: Thursday, June 18, 2015 10:46 AM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] title question
 
If you are going to record the Community Property Agreement there is no need
to also record a deed.  
If there are aspects of the Agreement you do not wish to make public, then
recording the deed makes sense.
 
John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98466
253-476-5721
 
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 
206-409-2604
email at sharonrutberglaw.com
Washington State Bar #47055
D.C. Bar #420576

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