[WSBARP] Property Owned by Inactive Foreign Corporation

[Robert Ordal]

It's not what you and I think is best or right, it's entirely up to the title company to decide because your client will not buy without title insurance

-----Original Message-----
From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of David Hastings
Sent: Wednesday, October 26, 2016 1:27 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Property Owned by Inactive Foreign Corporation

I have a potential client who wants to buy a piece of property located in Washington. The property is owned by an active AZ corporation. The corporation was registered to do business in Washington, but that registration has expired. The corporation was formed to hold the piece of property in question, and has no other assets.

My initial reaction is that the sale of the property would be an isolated transaction under RCW 23.95.520(i), and that the AZ corporation doesn't need to re-register before closing the sale. But I haven't dealt with anything like this before- am I missing something?

     -David Hastings


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