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<p class="MsoNormal">List mates:<o:p></o:p></p>
<p class="MsoNormal">I recently opened a probate and soon after opening, the PR found a buyer for the estate owned house and closing is schedule for today. A week ago the title company requested the usual letter that there were no taxes owing. The estate will
owe WA estate tax of I’m guessing about $55k, but there are plenty of funds to pay the tax. The title company requested the PR sign a very broad indemnity agreement in both her personal and individual capacity. She is not a beneficiary. They initially wanted
other beneficiaries to sign as well, but there are many and some are minors so they dropped that request. I advised her against signing it. The title company then send another indemnity agreement yesterday afternoon, which is a little less broad, but not
much, and includes an agreement that they can hold $55k back until the taxes are paid (which may be 18 months), and they can use the $55k to offset any of their damages, without notice.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">I have not encountered a title company demanding this type of indemnification or holdback. Usually they are satisfied when I include in the tax letter that the estate has sufficient funds to pay the tax. I’m inclined the tell the PR to
use a different title company, but the PR is anxious to get the sale completed.
<o:p></o:p></p>
<p class="MsoNormal">Have others run into this? I don’t know if its now a standard practice, in which case going to another title company may not help.
<o:p></o:p></p>
<p class="MsoNormal">Thank you, <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="background:white"><b><i><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#1F497D">Donna</span></i></b><o:p></o:p></p>
<p class="MsoNormal" style="background:white"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#1F497D"> </span><o:p></o:p></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Donna M. Calf Robe<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Attorney<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Brothers & Henderson, P.S.<o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Times New Roman",serif;color:black">2722 Eastlake Avenue East, Suite 200</span><span style="font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Times New Roman",serif;color:black">Seattle, Washington 98102</span><span style="font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Times New Roman",serif;color:black">Phone: (206) 324-4300 x113</span><span style="font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Times New Roman",serif;color:black">Fax: (206) 324-3106</span><span style="font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Times New Roman",serif;color:black">e-mail: donnac@brothershenderson.com</span><span style="font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Times New Roman",serif;color:black"><a href="http://www.brothershenderson.com/"><span style="color:blue">www.brothershenderson.com</span></a></span><span style="font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal" style="background:white"><span style="font-family:"Times New Roman",serif;color:black"><img border="0" width="196" height="56" style="width:2.0416in;height:.5833in" id="Picture_x0020_3" src="cid:image001.jpg@01D7424E.F1B91580"></span><span style="font-family:"Times New Roman",serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:black">The information transmitted in this e-mail message and attachments is attorney-client information, is privileged or confidential material and is intended only
for the use of the individual or entity named above. You are hereby notified that any disclosure, copying, distribution, review by or taking of any action in reliance on the contents of this e-mail information by unauthorized persons is strictly prohibited.
All personal messages are solely the views of the sender and are not to be attributed to Brothers & Henderson, P.S. If you have received this transmission in error, immediately notify the sender by reply e-mail and permanently delete this transmission and
all copies including attachments.</span><span style="font-size:10.0pt;font-family:"Times New Roman",serif"><o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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