[WSBAPT] Due on sale clauses

[Kerry Richards]

Dear Mike:
Thank you so much.
Kerry

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________________________________
From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> on behalf of Mike Zeno <mikez at zenolawfirm.com>
Sent: Tuesday, July 26, 2022 3:32:09 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Due on sale clauses


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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