[WSBARP] Redemption Period

[Richard Holland]

Did you ask the title company?  It would seem to me that if the foreclosed party waives or assigns their redemption rights to the Purchaser that you should be able to record such a document and get it off title.  Perhaps offer a hold-harmless to the title company if need be.

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Jeanne Dawes
Sent: Thursday, December 03, 2015 11:11 AM
To: WSBA Real Property Listserv (wsbarp at lists.wsbarppt.com) <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Redemption Period

Dear Listmates:

Does anyone know of a way other than abandonment, to shorten a 12-month redemption period?  We have successfully completed a judicial foreclosure, and all foreclosed parties and lien holders are agreeable to assigning or waiving their redemption rights.  The property is unimproved property.  The Purchaser at the Trustee's sale wishes to immediately begin marketing the property.  The real estate broker has indicated he will take a huge hit on price because of the redemption period exception on title.

I'm looking for a way that the title company could remove the exception from title without the sheriff's deed having been recorded; or a way to accelerate the redemption period to allow the sheriff's deed to be recorded now.  The redemption period began in November.

Thank you in advance for your help.

Jeanne J. Dawes
Attorney at Law
Gore & Grewe, P.S.
103 E. Indiana Avenue, Suite A
Spokane, WA 99207-2317
Voice:  509-326-7500
Fax:      509-326-7503
jjdawes at goregrewe.com<mailto:jjdawes at goregrewe.com>
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