[WSBARP] RCW 61.24.110 "declaration of payment" method of reconveyance

[John McCrady]

We have no problem relying on this procedure, after of course on a case by case review of the transaction.

John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98466
253-476-5721

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Eric Nelsen
Sent: Friday, January 09, 2015 3:04 PM
To: WSBA Real Property listserve (wsbarp at lists.wsbarppt.com)
Subject: [WSBARP] RCW 61.24.110 "declaration of payment" method of reconveyance

Another rant about Bank of America! :-)

How are our title company people treating the RCW 61.24.110<http://app.leg.wa.gov/rcw/default.aspx?cite=61.24&full=true#61.24.110> "declaration of payment" method of dealing with an old DOT? Does it work?

Loan was paid in full 2 years ago, and the Bank (of America, of course) acknowledges it's paid and the account is closed, but they refuse to request a reconveyance. Next step is, contact the out-of-state trustee and request them to reconvey. Assuming that doesn't work, Client would like to use the "declaration of payment" method. Has it been tested yet, and are title insurance companies willing to remove exceptions on that basis?

Happy Friday everyone!

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1320 University St
Seattle WA  98101-2837
phone 206-625-0092
fax 206-625-9040

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