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<p class="MsoNormal"><span style="color:#1F497D">Basic issue on assignment is really, it's just a quitclaim deed, not an actual assignment of redemption rights. "Former RCW 6.24.130 [now, RCW 6.23.010] requires that a successor in interest succeed to the judgment
debtor's interest <b>in the property</b> [in order to redeem]." <u>Fidelity Mut. Sav. Bank v. Mark</u>, 112 Wn.2d 47, 767 P.2d 1382 (1989). That same case confirms that redemption rights are not severable from the underlying property interest that the redemption
right springs from. In order to have a redemption right, one must have a property interest (interest of judgment debtor, a lienholder, or a successor in interest to either of them) that is granted the right of redemption under the statute.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">The tricky bit is for the <b>buyer</b> of the redemption rights, in making sure that it is actually worth anything. The buyer will essentially be standing in the shoes of an heir of the deceased, which means
that if the buyer redeems, the property is still subject to all encumbrances of the deceased, debts of the estate, etc.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">For the seller of the interest, so long as the seller is making no representations as to the quality or value of the interest, and is quit claiming rather than offering any warranties, I do not see why the seller
should not just take the buyer's money and run.</span><o:p></o:p></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Sincerely,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Eric<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">SAYRE LAW OFFICES, PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">1320 University St<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Seattle WA 98101-2837<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">phone 206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">fax 206-625-9040<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Samuel M. Meyler<br>
<b>Sent:</b> Tuesday, January 26, 2016 12:42 PM<br>
<b>To:</b> WSBAPT@lists.wsbarppt.com; WSBARP@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBARP] Assignment/Sale of Redemption Rights<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Listmates,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Looking for some input on the following scenario. Potential client’s mother passed away. Deceased’s home goes into judicial foreclosure and property is “sold” at auction (back to the bank). Potential client has been approached by a third-party
that is interested in paying client to assign/sell the redemption rights. How is this properly accomplished? Does anyone have forms that they are willing to share? Thanks!<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue">Sincerely,<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue">Samuel M. Meyler</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue">Attorney at Law </span></b><span style="font-size:10.0pt;color:blue"><br>
<br>
</span><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue">Mail:</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue"> P.O. Box 777 <b>|</b> Redmond, WA 98073-0777</span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue">Location:</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue"> 8201 164th Ave. NE, Suite 200 <b>|</b> Redmond, WA 98052</span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue">Tel:</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue"> 425.881.3680 <b>| Fax:</b> 425.881.1457 <b>| Email:</b> <a href="mailto:samuel@meylerlegal.com"><span style="color:blue">samuel@meylerlegal.com</span></a></span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue">NOTICE:</span></b><o:p></o:p></p>
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Communications Privacy Act 18 USC 2510. The information is intended to be for the use of the individual or entity named above. If you are not the intended recipient, please be aware that any disclosure, copying, distribution or use of the contents of this
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