[WSBAPT] Due on sale clauses

[Mike Zeno]

Kerry, I’ve attached the statute you’re talking about.  Exemptions from due on sale are in subsection (d).

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Kerry Richards
Sent: Monday, July 25, 2022 10:55 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Due on sale clauses

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<mailto:Krichards at lawgate.net>
206.617.2119

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Desc: 12 U.S. Code ? 1701j?3 - Preemption of due-on-sale prohibitions _ U.S. Code _ US Law _ LII _ Legal Information Institute.pdf
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