[WSBAPT] Garn-St Germaine question

[John Creahan]

Hi,
A client owns a house (with a mortgage). Two siblings live with her and she wants them to have the option to remain in the house after her death.
Garn-St. Germaine prohibits a bank from enforcing a due-on-sale clause in a mortgage if the property is transferred "to a relative resulting from the death of a borrower." Does anyone know if the transfer to a testamentary trust for a relative's benefit would also be protected?
Thanks,
John


John Creahan
206-578-5877
www.cairn-law.com<http://www.cairn-law.com/>

Fremont office:
3417 Evanston Ave. N, Suite 312
Seattle, WA 98103

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