[WSBARP] redemption

[Rob Wilson-Hoss]

Rod, Generally excess judgments are not secured by the original security and
are simply executed upon as ordinary judgments for money. And your guy
doesn't owe the money. So if he redeems I think that any excess left over is
just a judgment against a deceased person. I am not doing the research, this
is just what I think I know. 

 

The probate code is going to tell you that although security can be executed
upon, any additional personal claim for an excess against the decedent will
have to be brought within two years regardless of an estate being filed.

 

The wild card is that 11.04.250 makes exceptions to the vesting in favor of
costs of administration of the estate, family allowances, debts of the
decedent, and any other charges for which the property may be answerable.
But under these circumstances, it looks as if you could get title insurance.
This long after the death, there aren't going to be debts that can be
collected

 

Is this helping? I have done many similar things in the past but each is
case-specific.

 

I have to say, I really wonder at lenders who file judicial foreclosures
against "the Estate of" when there is no probate. The service by publication
statutes take care of their needs anyway, and I have seen a Superior Court
judge say, Estate? What Estate?

 

Rob  

 

Robert D. Wilson-Hoss 
Hoss & Wilson-Hoss, LLP 
236 West Birch Street 
Shelton, WA 98584 
360 426-2999

www.hossandwilson-hoss.com
rob at hctc.com

 

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From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Rod Harmon
Sent: Monday, February 22, 2016 11:37 AM
To: 'WSBA Real Property Listserv'
Subject: [WSBARP] redemption

 

A Borrower dies intestate leaving one heir.  Title vests in heir at time of
death.  RCW 11.04.250.  There is no probate of the estate. Four years after
death, Bank judicially forecloses deed of trust, naming Estate of Borrower
and Borrower’s heirs and devisees as defendants, and obtains judgment
against “Estate of Borrower and the real property.”  At the sheriff’s
auction, Bank bids half the amount of its judgment, but is outbid.  

 

If the heir redeems, does the heir take free of the lien for the unsatisfied
judgment?

 

 

Rod Harmon

 

RODNEY T. HARMON

       Attorney at Law

         P.O. Box 1066

      Bothell, WA   98041

     Tel:   (425) 402-7800

     Fax:  (425) 458-9096

    www.rodharmon.com

   rodharmon at msn.com

 

 

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