[WSBAPT] Is this showing up on the listserv?

[Diane J. Kiepe]

Jane,

I did see it come through – I didn’t think my response would be helpful bc the answer does lie within the mortgage and you note to disregard that.  Intuitively, based on some dealings others in my firm have had, I would say yes.   As confessed, not much help I know 😉

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jayne Gilbert
Sent: Tuesday, February 15, 2022 5:45 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Is this showing up on the listserv?

Contract to Buy RP w/ Mortgage and Taxes Owed

I sent this to this listserv yesterday and did not get any
feedback. Will somebody please let me know whether
this question actually made it to the site?

I have clients who have 2 homes on one parcel. Their
son and wife live in the little house. They want to sell the
property to the son and switch houses.

Correction There are significant taxes owed on the property
and a mortgage.

The son is selling his out of state home and plans to
make a significant down payment and then they will be
making monthly payments to his parents.

Generally: Will recording the contract make the mortgage and
taxes due on sale. (plz set aside reviewing the mortgage
language first).

I have mentioned reserving a life estate in the property
for the parents-they were not warm on the subject I also
discussed a TODD and a Will. They do intend to give all
their interest in the property upon the death of the survivor.

Thanks
--
*************************************************
Jayne Marsh Gilbert
Gilbert and Gilbert Lawyers, PS
(360) 336-9515
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