[WSBAPT] REET to List encumbrances?

[nestor at pplsweb.com]

I agree with Paul, however note that the amount of any assumed mortgage must be stated as part of the consideration  and that title commitments include as a condition of insuring payment of the REETA. 

 

I would also not accept as a Buyer a Blanket clause for “liens, encumbrances, etc. of record” on the deed, but require them listed with specificity. Typically people attach the special exceptions of schedule B. 

 

 

Nestor Gorfinkel, Attorney at Law

Licensed in Washington & Florida

Florida Civil-Law (International) Notary

 

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Paul Neumiller
Sent: Monday, July 23, 2018 8:37 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] REET to List encumbrances?

 

Why?  I hope some of the title guys weigh in here.  The REETA is not a document of conveyance but is used by the Treasurer’s office to determine taxes.  I would hate to have our industry get into a bind because a deed drafter put everything into the deed but didn’t list the liens on the REETA.  It is my understanding that title companies will insure title based on a valid and properly drafted deed of conveyance, not on the REETA.

 

 



 

 

 

From: wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com>  <wsbapt-bounces at lists.wsbarppt.com <mailto:wsbapt-bounces at lists.wsbarppt.com> > On Behalf Of John J. Sullivan
Sent: Monday, July 23, 2018 8:19 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com <mailto:wsbapt at lists.wsbarppt.com> >
Subject: Re: [WSBAPT] REET to List encumbrances?

 

Brent:

 

I would probably try adding the phrase “Subject to liens, encumbrances, etc. of record.”

 

Regards, 

John J. Sullivan

Sent from my iPad


On Jul 23, 2018, at 8:16 AM, Brent Williams-Ruth <brent at bwrconsults.com <mailto:brent at bwrconsults.com> > wrote:

I am doing a property transfer for a parcel that has 22 individual filings re: encumbrances (like HOA and utility access etc) does that List also need to be attached to the REET? Or simply just the actual legal description for the property? 

 

I’m leaning toward the latter but can’t find either WAC or RCW that is giving me satisfaction. 

 

Thank you!

Brent Williams-Ruth

Founding Member

BWR Consulting, PLLC

Phone: (425) 830-5134

e-mail: brent at bwrconsults.com <mailto:brent at bwrconsults.com>  / website: www.bwrconsults.com <https://nam01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.bwrconsults.com&data=02%7C01%7C%7Cf35d5306264742ddf2ab08d5f0b0ee93%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C636679565068164790&sdata=1Kbq62jN2MaGWRmr%2BdyJ0w4Q0D3enmN4mFF8kmm2H2g%3D&reserved=0> 

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