[WSBAPT] Probate initiated as solvent estate -Title policy reveal Judgements making estate insolvent

[michael westseattleattorney.com]

Thx Dalynne

Sent from my iPhone

On Oct 29, 2021, at 5:16 PM, Dalynne Singleton <dalynne at glgmail.com> wrote:


I would go to the judgment creditor first – ask for reductions to have the monies rom sale cover all fees and judgments.
Also, ask the broker to reduce or the sale will not go through.

If truly cannot cover all liens and fees, you need to prepare a notice of insolvency for the court and note for hearing on the sale, the monies, who gets what, etc.
In the end, the creditors are paid only a % of what they are owed so they might as well agree now.

Is this the only asset?
Are there other debts, IRS taxes, liens, etc?

Dalynne Singleton
Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291
360.568.5065
360.568.8092  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>
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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of michael westseattleattorney.com
Sent: Friday, October 29, 2021 4:52 PM
To: WSBA Probate & Trust Listserve <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Probate initiated as solvent estate -Title policy reveal Judgements making estate insolvent

How to proceed?  Initial estate was opened as solvent as heirs did not know of judgements /liens on real property. These will be nearly the same as the gross sale price of the real property and more than the net proceeds making the estate insolvent. Can heir complete sale and pay broker fee which will reduce net proceeds and leave insufficient monies to pay off judgements?  How do you remove liens /judgements ? Will Title insure?
I am thinking that judgement creditor would need to sign off, right?
Thanks Mike

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