[WSBAPT] Judgment Creditor against estate
Rob Wilson-Hoss
rob at hctc.com
Thu Sep 1 11:49:33 PDT 2016
Marcus, RCW 4.56.200 calls it a judgment lien. All perfected security
interests are liens, but not all liens are security interests. There are all
kinds of liens that are not security interests. For example, the Internal
Revenue Code says, The term security interest means any interest in
property acquired by contract for the purpose of securing payment or
performance of an obligation or indemnifying against loss or liability.
Gen. Elec. Credit Corp. v. Isaacs, 90 Wash. 2d 234, 238, 581 P.2d 1032, 1034
(1978). UCC provisions are consistent. In order to get security interest
status for collateral under the UCC, you have to go through certain steps to
create the interest, a security agreement, otherwise it is an unperfected
security interest and has no priority status.
I am making this up; this means I cant find a case right on point but the
above is probably close.
Rob
Robert D. Wilson-Hoss
Hoss & Wilson-Hoss, LLP
236 West Birch Street
Shelton, WA 98584
360 426-2999
www.hossandwilson-hoss.com
rob at hctc.com
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From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Marcus Fry
Sent: Thursday, September 01, 2016 11:20 AM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Judgment Creditor against estate
Query: Below is the pertinent statute. I have a situation where a creditor
obtained a judgment prior to decedents death, which constitutes a lien
against real property. If the creditor doesnt file a claim in the estate
by the statutory deadline, is the creditors judgment lien still valid under
RCW 11.40.135? The use of the word secured leads me to read the statute
to apply only where the creditor has been granted security in the property
as opposed to just a judgment that simply attaches to any real estate owned
by the creditor.
Anyone dealt with this before?
RCW 11.40.135
Secured claimCreditor's right.
If a creditor's claim is secured by any property of the decedent, this
chapter does not affect the right of a creditor to realize on the creditor's
security, whether or not the creditor presented the claim in the manner
provided in RCW <http://app.leg.wa.gov/RCW/default.aspx?cite=11.40.070>
11.40.070.
Marcus J. Fry
Lyon, Weigand & Gustafson, P.S.
P.O. Box 1689
Yakima, Washington 98907
Telephone: (509) 248-7220
Facsimile: (509) 575-1883
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