[WSBAPT] State of Limitations on Non-Judicial Foreclosure of Deed of Trust

[Mike Winslow]

Here is a reply from the RP list (Kevin Hanchett) that may be of additional
help:
Generally, actions based on written contracts must be commenced within six
years after breach. RCW 4.16.040. The general rule for debts payable by
installment provides, "A separate cause of action arises on each
installment, and the statute of limitations runs separately against each
...." 31 Richard A. Lord, Williston on Contracts § 79:17, at 338 (4th ed.
2004); see also 25 David K. Dewolf, Keller W. Allen & Darlene Barrier
Caruso, Washington Practice: Contract Law and Practice § 16:20, at 196
(2012-13 Supp.) ("Where a contract calls for payment of an obligation by
installments, the statute of limitations begins to run for each installment
at the time such payment is due"); Hassler v. Account Brokers of Larimer
County. Inc.. 274 P.3d 547, 553 (Colo. 2012) (same); Bay Area Laundry & Dry
Cleaning Pension Trust Fund v. Ferbar Corp. of CaL 522 U.S. 192, 208-09, 118
S.Ct. 542, 139 L.Ed.2d 553 (1997)  But if an obligation that is to be repaid
in installments is accelerated— either automatically by the terms of the
agreement or by the election of the creditor pursuant to an optional
acceleration clause—the entire remaining balance of the loan becomes due
immediately and the statute of limitations is triggered for all installments
that had not previously become due. 31 Richard A. Lord, supra, § 79:17, at
338; § 79:18, at 347-50; 12 Am.Jur.2d, Bills & Notes § 581 (same); Bay Area,
522 U.S. at 208-09 (same). The statute of limitations commences upon
maturity of a note. A.A.C. Corp. v. Reed. 73 Wn.2d 612, 615, 440 P.2d 465
(1968). 
 
Kevin Hanchett
Resource Transition Consultants, LLC
144 Railroad Avenue, Suite 310
Edmonds WA 98020
(425) 678-8162
Cell (206) 930-5332
Fax (425) 967-3083
www.rtcreceivers.com 
 
 
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 Jeff Davis
Sent: Tuesday, February 02, 2016 4:38 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] State of Limitations on Non-Judicial Foreclosure of Deed
of Trust
 
PC has less than six months before statute of limitation runs on enforcing
promissory note secured by DOT.  Walcker v. Benson and McLaughlin, P.S., 79
Wn. App. 739, 904 P.2d 1176 (1995) bars DOT foreclosures after the SOL runs
on the note.  Question is does the non-judicial sale have to occur before
the SOL runs or will starting the process, serving Notice of Default and
setting sale date before it runs toll the SOL?  If sale must be done before
the SOL runs then judicial foreclosure is the route to take at this late
date.
 
Jeff
 
W. Jeff Davis, Esq.
Attorney at Law
BELL & DAVIS PLLC
P.O. Box 510
Sequim WA 98382
Phone No.:(360) 683.1129 
Fax No.: (360) 683.1258 
email: info at bellanddavispllc.com
www.bellanddavispllc.com <http://www.bellanddavispllc.com/> 
 
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