[WSBAPT] Due on sale clauses

[Kerry Richards]

Dear Listmates:
I am working on a property settlement agreement emanating from a CIR (Committed Intimate Relationship) and am concerned about the effect of one party deciding to provide his 49% share of the house to an irrevocable trust naming the children as beneficiaries. Will that trigger the mortgage company’s due on sale clause or is this transaction protected like a dissolution Property Settlement Agreement under the Statutory protections of that statute which I cannot fully remember the name of? Something like Garman St. German or so.
Can someone offer their opinion please?
Yours truly,
Kerry A Richards
Krichards at lawgate.net
206.617.2119

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