[WSBARP] voluntary lien on real property

[Laird, Katherine]

There are also special rules issued by L&I related to the sale of mobile homes, regardless of whether the unit is being moved to a new location.  Mobile home transactions are  little tricky and fully of traps for the uninitiated.
Good luck.

Katherine Kramer Laird
CenturyPacific, LP
Suite 1680
1201 Third Avenue
Seattle, WA  98101
Ph. 206-757-8892
Fax 206-757-7890
katherinelaird at centurypacificlp.com<mailto:katherinelaird at centurypacificlp.com>


From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Jennifer Johnson
Sent: Monday, March 23, 2015 12:03 PM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] voluntary lien on real property

Is it just a mobile home on a rented lot in a mobile home park?  If so, it is personal property, not real property.  You can do a loan agreement and/or a promissory note with a future advances clause, and secure the loan by filing a UCC financing statement.

Jennifer

Jennifer M. Johnson | Attorney
Hanigan Law Office, P.S.
P.O. Box 39 / 68 Main Street
Cathlamet, WA 98612
(360) 795-3494

[cid:image002.png at 01D06568.826C8AA0]





On 3/23/15 10:44 AM, "Bickel, Dwight" <Dwight.Bickel at fntg.com> wrote:
The only real property lien that is appropriate is a Deed of Trust to secure the agreement for repayment.  A Promissory Note is not needed, because the amount due is not known.  A written agreement defining the reimbursement would be needed.  The amount due must be capable of determination at the time of default.  It should be signed, acknowledged and recorded at the time of the agreement to perfect the lien position and its enforceability against now unforeseen other creditors.  Waiting until the sale would be foolish, not only risking loss of priority, but also risking a sale to persons who have no knowledge prior to the appearance of the last-minute recording in the public records.


From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of James Van Damme
Sent: Sunday, March 22, 2015 8:35 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] voluntary lien on real property


PC's mother is elderly and is moving to a retirement home and they are planning on selling her mobile home.  In the meantime the PC is paying the mother's monthly lot rent.  PC wants to be repaid from the proceeds.



I could not find any specific statutory liens covering the situation.  Is the proper procedure to execute a promissory note secured by a deed of trust?  Should  PC then file the deed or wait until the home is sold.



Thank you

James Van Damme





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