[WSBAPT] CHAIN OF TITLE QUESTION AND POSSIBLE REFERRAL

[Laura Latta]

Thank you for your thoughts, Diane.

On Mon, Nov 15, 2021 at 6:42 PM Diane J. Kiepe <DJKiepe at depdslaw.com> wrote:

> Hi Laura,
>
>
>
> I think you are actually right on track.  The Lender’s deed transfers
> nothing if not signed in their capacity as trustee’s (and this would be the
> case if the were singing as H&W).  The Lender may be trying to avoid an
> opinion on the refi involving a trust but who knows, maybe simply
> overlooked the deed into trust.
>
>
>
> With the above in mind, I would also be concerned that the lender has all
> the paperwork in the parties individual names which would include them
> making some sort of representations that they have power to sign the
> documents and this would concern me as their counsel; enough to visit with
> them on the subject.  I don’t know maybe it’s just been a long day and I’m
> feeling overly jaded (😉).  I’ll be curious to see what other’s say but
> in this instance, if it really has to be in their names for the refi, it
> should be transferred out of trust first – and if this is required, I would
> want to be sure the bank doesn’t have a prohibition against transferring
> the real property back into the trust with the mortgage.  They shouldn’t.
>
>
>
> I just completed a letter for a refi to let the lender know the Living
> Trust could qualify for financing (in addition to a natural person) because
> the living trust met various criteria.
>
>
>
> Best to you.
>
>
>
> *Diane J. Kiepe*
>
>
>
> Diane J. Kiepe
>
> Douglas Eden
>
> 717 W. Sprague Ave.
>
> Suite 1500
>
> Spokane, WA  99201
>
> djkiepe at depdslaw.com
>
> 509-455-5300
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com <
> wsbapt-bounces at lists.wsbarppt.com> *On Behalf Of *Laura Latta
> *Sent:* Monday, November 15, 2021 5:41 PM
> *To:* WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
> *Subject:* [WSBAPT] CHAIN OF TITLE QUESTION AND POSSIBLE REFERRAL
>
>
>
> An estate planning client executed a deed transferring property from
> themselves as husband and wife to their living trust. Two weeks later, as
> part of a refi, the lender has the clients execute a deed from themselves
> as husband and wife to themselves as joint tenants.
>
> The purpose of the deed appears to be adding the wife's married name to
> the chain of title (she had not changed her name when they purchased the
> house originally). The issue is potentially that the QCD prepared by the
> lender names the husband and wife in their individual capacities rather
> than as trustees and totally ignores the QCD to the trust which is the last
> document in the chain of title.
>
> Any thoughts on how/whether to address this? In particular, I'm trying to
> wrap my mind around whether this is an issue for the clients or only the
> lender. Or maybe a problem for the lender is a problem for the borrower.
> Being that this is outside my wheelhouse, I'd love to refer it out if
> anyone is interested.
>
>
>
> --
>
>
> *Laura Latta Law Office of Laura Latta PLLC*
>
> she/her
>
> Phone (206) 841-2344
>
> www.LauraLatta.com
>
> PO Box 82356
>
> Kenmore, WA 98028
>
>
>
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-- 


*Laura LattaLaw Office of Laura Latta PLLC*

she/her

Phone (206) 841-2344

www.LauraLatta.com

PO Box 82356

Kenmore, WA 98028



*NOTICE:  This communication may contain privileged or other confidential
information. If you have received it in error, please advise the sender by
replying to this email and immediately delete the message and any
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