[WSBAPT] Promissory note assignment to DSHS

[Douglas Bratt]

I will trust those fellow-practitioners who know more specifics about Article 3 of the UCC than I do, but would not some sort of "without recourse" language be called for, such that if all, or a portion of, the note is uncollectible, the assignee cannot go after the assignor?

Good Luck.

Doug Bratt

Douglas J. Bratt
Lawyer

[Envelope scaled Foster]

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Lovie Bernardi
Sent: Thursday, April 28, 2016 1:06 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Promissory note assignment to DSHS

Listmates,

I am administering a probate with a DSHS creditor's claim. The largest asset in the estate is a promissory note and DSHS has agreed to accept an assignment of the note as part of the payment of the claim. I have drafted the appropriate assignment documents. I am drafting a Receipt for Partial Payment of Creditor's Claim. I am wondering how to draft it to make sure that regardless of whether the maker of the note continues to make payments, the estate has satisfied the claim in an amount equal to the value of the note at the time of the assignment. Is putting in the value of the note enough, or should I add anything else? Thanks for your input.

Lovie L. Bernardi
Flaherty & Bernardi, PLLC
216 First AVE S, #450
Seattle, WA  98104
(206) 682-2616

lovie at fb-lawfirm.com<mailto:joni at sbfirm.com>
http://fb-lawfirm.com<http://sbfirm.com/>

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