[WSBAPT] Lender not accepting Lack of Probate Aff

[Jim Doran]

John:

I appreciate the perspective that you offer.

Jim


James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com
www.doranlegal.com

On Thu, Jul 20, 2017 at 10:40 AM, John McCrady <j.mccrady at pstitle.com>
wrote:

> I am not sure that most title companies “like” the lack of probate
> affidavit.  We do “accept” the lack of probate affidavit; probably because:
>
> 1)      Many people don’t have the money, or want to spend the money, to
> go through a probate proceeding, and/or
>
> 2)      If I don’t agree to insure through the lack of probate affidavit
> “Brand X Title Company” will.
>
>
>
> We do believe that our risk of loss on these is low since we try to wring
> out the facts pretty well before we insure.  I do however advise the
> customers that they are probably better served by the probate procedure,
> for the reasons you set out below.
>
>
>
> You summed it up nicely:  “The best practice is the PR Deed.”
>
>
>
> John McCrady
>
> Puget Sound Title Company
>
> 5350 Orchard Street West
>
> University Place WA 98467
>
> 253-476-5721 <(253)%20476-5721>
>
> j.mccrady at pstitle.com
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.
> wsbarppt.com] *On Behalf Of *Jim Doran
> *Sent:* Thursday, July 20, 2017 10:15 AM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* Re: [WSBAPT] Lender not accepting Lack of Probate Aff
>
>
>
> This lender not accepting "Lack of probate Affidavit" has come up a few
> times.  I have often wondered about the effectiveness of such an
> Affidavit.  I may be "old school" on this but isn't the chain of title much
> more solid with a Personal Representative Deed though probate?  And, if
> timing matters, there is no requirement for the Notice to Creditors and the
> four month waiting period.
>
> In my "old school" opinion, I think title companies like the Lack of
> Probate Affidavit so they are willing to guarantee on that.  But the best
> practice is the PR Deed.
>
> Jim Doran
>
>
>
> James R. Doran
>
> Attorney at Law
>
> 100 E. Pine Street -  Suite 205
>
> Bellingham, WA 98225
> (360)393-9506 <(360)%20393-9506>
>
> jim at doranlegal.com
>
> www.doranlegal.com
>
>
>
> On Tue, Jul 18, 2017 at 11:21 AM, Eric Nelsen <Eric at sayrelawoffices.com>
> wrote:
>
> I'm not sure transferring ownership will solve the problem. Garn St.
> Germain Act prevents lender from foreclosing on someone who inherits a
> property, so I don't know what the lender is balking at. If heir just keeps
> sending in payments, there shouldn't be an issue. Or does the heir need to
> talk to the lender for some other reason?
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> SAYRE LAW OFFICES, PLLC
>
> 1417 31st Ave South
>
> Seattle WA  98144-3909
>
> phone 206-625-0092 <(206)%20625-0092>
>
> fax 206-625-9040 <(206)%20625-9040>
>
>
>
> *Please Note that We Have Moved.* We have moved our Seattle office to
> Mount Baker Ridge (a small commercial community just above the I-90
> tunnel). *Our new address is 1417 31st Avenue South, Seattle WA 98144. *All
> other contact information remains the same.
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.
> wsbarppt.com] *On Behalf Of *Michael Atkins
> *Sent:* Tuesday, July 18, 2017 9:24 AM
> *To:* PROBATE -REAL PROP SECTION
> *Subject:* [WSBAPT] Lender not accepting Lack of Probate Aff
>
>
>
> All:
>
> 2004, Small estate so Atty used Lack of Probate Aff .  New lender is not
> accepting heir as owner. Does he need to open probate and QC to self?
>
> Thanks
>
> Mike
>
>
>
>
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>
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