[WSBAPT] Garn-St. Germain & RLT

Thu Aug 22 15:43:45 PDT 2024

I have come across this issue and reached the same conclusion as Brent. In
this example there is an exception protecting the transfer from the
father's estate to the daughter. There is not an exception protecting the
transfer from the daughter to her trust because she is not the borrower. I
would love to be wrong about this though.

*Laura LattaLaw Office of Laura Latta PLLC*

she/her

Phone (206) 841-2344

www.LauraLatta.com

4010 Lake Washington Blvd. NE Ste. 202

Kirkland, WA 98033

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On Thu, Aug 22, 2024 at 2:45 PM Brent Williams-Ruth <
brent at williams-ruthlaw.com> wrote:

> I am totally open to being wrong - it is how we learn and grow - but I am
> not sure that I am wrong. So allow me to explain the assumptions made from
> the reading of the original message and how I add colorful facts to make it
> easier for my brain to follow along.
>
> My understanding from Ms. Madison's post is that her client (the
> daughter, we shall call her Famous Hollywood Agent) has inherited her
> father's house in (let's just say Seattle).  Father - who I am naming Mr.
> Johnson -  passed away with an outstanding mortgage balance (let's call it
> the Mortgage of Mr. Johnson).  Famous Hollywood agent has established life
> and owns her own home in Pacific Palisades and, like the vast majority of
> Californians, has a California RLT.
>
> I see the question as whether Famous Hollywood Agent may take Mr.
> Johnson's house and add it to her California Trust, where the BORROWER is
> still Mr. Johnson and Mr. Johnson's Mortgage and the beneficiary of the
> Trust is Daughter Hollywood Agent.
>
> If those are the facts, my read of Exemption #8 does not apply.
>
> Am I wrong?
>
> *Brent Williams-Ruth* (pronouns: he/him)
> *Attorney-At-Law*
>
> *Law Offices of Brent Williams-Ruth, **a division of BWR Consulting, PLLC*
>
> *Physical Address: 500 S 336th Street, Suite 214; Federal Way, WA 98003*
>
> *Mailing Address: **PO BOX 3319; Federal Way, WA 98063 *
>
> Office/Scheduling Phone: (253) 285-7751
>
> For All Meetings & Scheduling: info at williams-ruthlaw.com
>
> e-mail <Brent at Williams-RuthLaw.com> / website
> <http://www.williams-ruthlaw.com/> / facebook
> <http://www.facebook.com/bwrlaw> /
>
>
> On Thu, Aug 22, 2024 at 2:04 PM Ann Manley <ann at manleyfirm.com> wrote:
>
>> Exception 8 says: "A transfer into an inter vivos trust in which the
>> borrower is and remains a beneficiary *and which does not relate to a
>> transfer of rights of occupancy in the property.*"
>>
>> Does this mean the property owner must retain the right to occupy the
>> property?
>>
>> Ann Manley, Esq.
>> The Manley Law Firm, P.S., Inc.
>> PO Box 16324
>> Seattle, WA 98116
>> (206)292-3064 / (206)292-3914 fax
>> www.manleyfirm.com
>>
>> *The Manley Law Firm practice areas include Bankruptcy*, Estate Planning,
>> Auto Accidents, Civil Litigation, Construction, Commercial and Contract
>> Law, Personal injury, Small Business, Unemployment Claims, Wage Loss and
>> Compensation claims*
>>
>> ** The Manley Law Firm is a Debt Relief Agency. We help people file for
>> bankruptcy relief under the Bankruptcy Code.*
>>
>> *This email and any files transmitted with it are privileged,
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>>
>> On Thu, Aug 22, 2024 at 12:53 PM Brent Williams-Ruth <
>> brent at williams-ruthlaw.com> wrote:
>>
>>> I have not personally come across this, but given that Exemption #8
>>> specifically states that it is OK to go into trust so long as the borrower
>>> is the one beneficiary, I would surmise that it does not protect the
>>> transfer.Definitely worth reading the entire statute though (I created a
>>> cheat sheet with just the 9 exemptions away from the rest of the statute.
>>>
>>> *Brent Williams-Ruth* (pronouns: he/him)
>>> *Attorney-At-Law*
>>>
>>> *Law Offices of Brent Williams-Ruth, **a division of BWR Consulting,
>>> PLLC*
>>>
>>> *Physical Address: 500 S 336th Street, Suite 214; Federal Way, WA 98003*
>>>
>>> *Mailing Address: **PO BOX 3319; Federal Way, WA 98063 *
>>>
>>> Office/Scheduling Phone: (253) 285-7751
>>>
>>> For All Meetings & Scheduling: info at williams-ruthlaw.com
>>>
>>> e-mail <Brent at Williams-RuthLaw.com> / website
>>> <http://www.williams-ruthlaw.com/> / facebook
>>> <http://www.facebook.com/bwrlaw> /
>>>
>>>
>>> On Thu, Aug 22, 2024 at 12:36 PM Morgan Madison <
>>> morgan at madeira-legal.com> wrote:
>>>
>>>> Hello list:
>>>>
>>>>
>>>>
>>>> Client inherits Washington real property subject to mortgage (inherited
>>>> from her father). Client resides in California and owns real property in
>>>> California in a revocable living trust. Client would like to add the
>>>> Washington real property to her California trust.
>>>>
>>>>
>>>>
>>>> Does the Garn-St. Germain Act protect the transfer to her trust from
>>>> triggering the due on sale clause of the mortgage?
>>>>
>>>>
>>>>
>>>> Thank you,
>>>>
>>>> Morgan
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> *Morgan K. Madison*
>>>>
>>>> *ATTORNEY*
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>>
>>>> [image: Logo, company name Description automatically generated]
>>>>
>>>> *253.222.7778*
>>>>
>>>>
>>>>
>>>> 3812 North 26th Street, Suite B
>>>>
>>>> Tacoma, WA 98407
>>>>
>>>>
>>>>
>>>> *madeira-legal.com <http://madeira-legal.com>*
>>>>
>>>>
>>>>
>>>>
>>>>
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>>>>
>>>>
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