[WSBARP] voluntary lien on real property

[Christopher Thayer]

The mobile home has a certificate of title, just like a car.  So you don’t file a UCC-1 financing statement.  You need to go through the DOL.

Christopher L. Thayer
Managing Partner
PIVOTAL LAW GROUP, PLLC
More about me and my practice: www.PivotalLawGroup.com/Team/Thayer/<http://www.pivotallawgroup.com/Team/Thayer/>
Email: CThayer at PivotalLawGroup.com<mailto:CThayer at PivotalLawGroup.com>
Tel:(206)340-2008/Dir:(206)805-1494/Fax:(206)340-1962




From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of James Van Damme
Sent: Wednesday, March 25, 2015 9:33 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] voluntary lien on real property

You are correct its a mobile home on a rented mobile home park lot. Thank you everyone for your insight.  The title has not been eliminated.  I will have them do a loan  agreement w/ future advances clause and file the UCC.

Jim

On Mon, Mar 23, 2015 at 12:02 PM, Jennifer Johnson <jmhanigan at cni.net<mailto:jmhanigan at cni.net>> wrote:
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<tel:%28360%29%20795-3494>

[cid:image001.png at 01D066E4.A7FCE5D0]





On 3/23/15 10:44 AM, "Bickel, Dwight" <Dwight.Bickel at fntg.com<http://Dwight.Bickel@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<http://wsbarp-bounces@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<http://wsbarp@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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