[WSBAPT] Retitling and due-on-sale clause - and a new question

[Carmen Rowe]

First off, I'm curious to answers to Tom's post as well.

Second - has anyone dealt with this issue with respect to transfer to
children and fighting any lender attempt to call the loan?

I'm looking specifically at (d)(6).  Father is looking to transfer title
100% to daughter. Curious if anyone has actually dealt with a lender on
this issue or parallels in the statute?



Carmen Rowe, Attorney


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Date: Thu, 2 Nov 2017 21:30:15 +0000
> From: Thomas White <Thomas.H.White at KingCountyBusinessLaw.com>
> To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> Subject: [WSBAPT] Retitling and Due-on-Sale
> Message-ID:
>         <DM5PR01MB22840FA89C1ED4125B40D179DB5C0 at DM5PR01MB2284.prod.
> exchangelabs.com>
>
> Content-Type: text/plain; charset="us-ascii"
>
> Dear Hive Mind:
>
> Does re-titling a property held by A and B as tenants in common to be held
> by A and B as joint tenants with right of survivorship trigger the
> due-on-sale clause of most mortgages?
>
> I am wondering if they will need to refinance. (The change in title would
> be to allow an unmarried couple the benefits of the
> ​​
> Garn-St. Germaine Act).
>
> Kind Regards,
>
> Tom
>
> --
> Thomas H. White
> (206) 552-8650
> Attorney/Owner
> King County Business Law
> https://linkedin.com/in/LawGuy
> Thomas.H.White at KingCountyBusinessLaw.com<mailto:Thomas.H.White@
> KingCountyBusinessLaw.com>
>
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>
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