<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<meta name="Generator" content="Microsoft Word 14 (filtered medium)">
<style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
@font-face
{font-family:"Book Antiqua";
panose-1:2 4 6 2 5 3 5 3 3 4;}
@font-face
{font-family:Verdana;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman","serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.hoenzb
{mso-style-name:hoenzb;}
span.EmailStyle18
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="blue" vlink="purple">
<div class="WordSection1">
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Curiosity got the cat. I just looked at the 12 USC 1703 St. Germain Act. Assuming the mortgage has a due on sale (really, due on transfer) provision, the lender
has the right to accelerate the mortgage as a result of an unauthorized transfer unless prohibited by law. Some mortgages don’t have due on sale clauses (you will have to check). Since the PC is not beneficiary of the Trust, the acceleration would not be
in violation of federal law (that is what Paul’s email was referring to).<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Good luck. Hoe the mortgage has a due on sale clause. Alert the bank to the ruse (your client transferred to a trust in which he is not a beneficiary) and
even though the mortgage is current it violates the mortgage. Assuming the property has appreciated in value, the bank may be happy to try to foreclose. This will force uncle to have to refi. Your client will no longer be welcome at Thanksgiving Dinner.
A small price to pay.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">k<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:black">Katherine Kramer Laird</span><span style="color:#1F497D">
<br>
</span><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:gray">CenturyPacific, LP</span><span style="color:#1F497D">
<br>
</span><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:gray">Suite 1680</span><span style="color:#1F497D">
<br>
</span><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:gray">1201 Third Avenue</span><span style="color:#1F497D">
<br>
</span><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:gray">Seattle, WA 98101</span><span style="color:#1F497D">
<br>
</span><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:gray">Ph. 206-757-8892/Mobile. 206-915-0109</span><span style="color:#1F497D">
<br>
</span><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:gray">Fax 206-757-7890</span><span style="color:#1F497D">
<br>
</span><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:gray"><a href="mailto:katherinelaird@centurypacificlp.com"><span style="color:blue">katherinelaird@centurypacificlp.com</span></a></span><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:black"> <o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Book Antiqua","serif";color:black"> </span><span style="color:#1F497D">
<o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<div>
<div style="border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in">
<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""> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>Adria Vondra<br>
<b>Sent:</b> Thursday, June 02, 2016 3:04 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv<br>
<b>Subject:</b> Re: [WSBAPT] Client on mortgage, but not title<o:p></o:p></span></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal">Thanks! I'll look again at the Act!<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal" style="margin-bottom:12.0pt"><br>
On Jun 2, 2016, at 2:52 PM, Paul Grant <<a href="mailto:paulnnepa@gmail.com">paulnnepa@gmail.com</a>> wrote:<o:p></o:p></p>
</div>
<blockquote style="margin-top:5.0pt;margin-bottom:5.0pt">
<div>
<div>
<p class="MsoNormal">Well, believe it or not, I was just poking around the St. Germain Act this morning.... why? Because attorneys are just that weird.<o:p></o:p></p>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">Look at US Code 1703j-3(d)(8) - <span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:#333333">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</span><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:#333333">If your client is "the borrower" but is not a beneficiary the transfer may have offended the statute and the loan could trigger the due-on-sale clause. If
you could convince the mortgagee to close the loan that may also force a remortgage.</span><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Verdana","sans-serif";color:#333333">Obviously a long shot but look at the section to see if anything else fits your situation. Even the threat of asking the mortgagee to force a payment in full
may get the Trustee to respond, specifically if it comes from your office.</span><o:p></o:p></p>
</div>
</div>
<div>
<p class="MsoNormal"><br clear="all">
<o:p></o:p></p>
<div>
<div>
<p class="MsoNormal"><br>
Paul H. Grant - JD, LL.M<br>
<br>
Planning with Purpose, Inc<br>
Lynnwood, WA 98036<br>
425-939-9948<br>
<a href="http://www.planningwithpurposeinc.com" target="_blank">www.planningwithpurposeinc.com</a><br>
<br>
Estate Planning. Business Planning. Wealth Succession.<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal">On Thu, Jun 2, 2016 at 2:10 PM, Adria Vondra <<a href="mailto:avondra75@gmail.com" target="_blank">avondra75@gmail.com</a>> wrote:<o:p></o:p></p>
<div>
<p class="MsoNormal"><span style="font-family:"Verdana","sans-serif"">I have a PC who took out a mortgage loan for his aunt several years ago. Right before she died (5 years ago), he transferred title to her family trust at her request. His uncle is trustee
and PC is not a beneficiary. He never lived in the house and never has made any payments on the home nor did he make the down payment. The trust makes all the payments. His uncle is not cooperative at all. So, basically, he is on the loan and not the title.
He wants to get off the loan so that he can qualify for his own home. Does he have any legal recourse? I don't know if he can force a sale since he is not on title. The trustee will not cooperate to refinance and the client is concerned about his credit
and has literally no communication with them since his aunt died. Any ideas?</span><span style="color:#888888"><br clear="all">
<br>
<span class="hoenzb">-- </span></span><span class="hoenzb"><span style="color:#888888"><o:p></o:p></span></span></p>
<div>
<div>
<div>
<div>
<div>
<div>
<div>
<p class="MsoNormal"><span style="color:#888888">Adria Vondra<br>
Attorney at Law<br>
Vondra Law Firm, PLLC</span><o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><span style="color:#888888">15600 Redmond Way, Ste 201<o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal"><span style="color:#888888">Redmond, WA 98052<o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal"><span style="color:#888888"><a href="mailto:avondra@vondralawfirm.com" target="_blank">avondra@vondralawfirm.com</a><o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal"><span style="color:#888888"><o:p> </o:p></span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
<p class="MsoNormal"><br>
_______________________________________________<br>
WSBAPT mailing list<br>
<a href="mailto:WSBAPT@lists.wsbarppt.com">WSBAPT@lists.wsbarppt.com</a><br>
<a href="http://mailman.fsr.com/mailman/listinfo/wsbapt" target="_blank">http://mailman.fsr.com/mailman/listinfo/wsbapt</a><o:p></o:p></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
</div>
</blockquote>
<blockquote style="margin-top:5.0pt;margin-bottom:5.0pt">
<div>
<p class="MsoNormal">_______________________________________________<br>
WSBAPT mailing list<br>
<a href="mailto:WSBAPT@lists.wsbarppt.com">WSBAPT@lists.wsbarppt.com</a><br>
<a href="http://mailman.fsr.com/mailman/listinfo/wsbapt">http://mailman.fsr.com/mailman/listinfo/wsbapt</a><o:p></o:p></p>
</div>
</blockquote>
</div>
</body>
</html>