[WSBAPT] Lender not accepting Lack of Probate Aff

Thu Jul 20 12:17:11 PDT 2017

Something to think about: it is one thing if the real property is to be sold immediately; non-probate affidavits for title companies might work nicely, depending on the answers to all the issues that they like to see promises around (all debt paid, for example). But if the property is not going to be sold right away, then there is so much that can happen before title transfers, maybe years down the road, I usually recommend a PR bargain and sale deed now. 

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

This message is intended solely for the use of the addressee and may contain information that is privileged, confidential, and exempt from disclosure under applicable law.  If you are not the addressee, you are hereby notified that any use, distribution, or copying of this message is strictly prohibited.  If you received this message in error, please notify us by reply e-mail or by telephone (call us collect at the number listed above) and immediately delete this message and any and all of its attachments.  Thank you.

This office does debt collection and this e-mail may be an attempt to collect a debt, Any information obtained will be used for that purpose.  To the extent the Federal Fair Debt Collection Practices Act (15 U.S.C. § 1692) applies this firm is acting as a debt collector for the condominium/homeowners' association named above to collect a debt owed to it. Any information obtained will be used for collection purposes. You have the right to seek advice of legal counsel.

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Bryce Dille
Sent: Thursday, July 20, 2017 12:08 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Lender not accepting Lack of Probate Aff

When a client comes in whose spouse has died and the only asset is the family home and there is no CP agreement I give them both options and when I explain the cost of each and the risks 9 out 10  clients opt for the affidavit of no probate by surviving spouse.

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jim Doran
Sent: Thursday, July 20, 2017 10:54 AM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] Lender not accepting Lack of Probate Aff

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 <tel:(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 <tel:(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 <tel:(206)%20625-0092> 

fax 206-625-9040 <tel:(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

_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com
http://mailman.fsr.com/mailman/listinfo/wsbapt

_______________________________________________
WSBAPT mailing list
WSBAPT at lists.wsbarppt.com
http://mailman.fsr.com/mailman/listinfo/wsbapt

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170720/064b80e3/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 57245 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20170720/064b80e3/image001.png>