[WSBARP] Deed of Trust For Agricultural Land

[David Faber]

Thanks all,

Because I'm representing the buyer, we don't particularly want a real
estate contract. We originally were using a real estate contract but
switched off of it in favor of a note and deed of trust after I was assured
by the title company, despite my statutory review, that they could prepare
a DOT for agricultural land. I should have realized that they're LPOs and
unable to get terribly creative (or creative at all), but I didn't push
back on the assertion. Anyway, this discussion was very helpful and I think
we have arrived at a solution.

Best,
David J. Faber
Faber Feinson PLLC
210 Polk Street, Suite 1
Port Townsend, WA 98368
(360) 379-4110

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On Thu, Sep 15, 2016 at 10:54 AM, Robert R. Cole <
cole-gilday at stanwoodlaw.net> wrote:

> switch to a real estate contract, which works for ag land
>
> Very Truly Yours,
>
> Robert R. Cole
>
> Law Office of Cole & Gilday, P.C.
>
>
>
> 10101 - 270th St. NW
>
> P.O. Box 249
>
> Stanwood, WA 98292
>
> (360) 629-2900 (Telephone)
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> On 9/15/2016 10:37 AM, Eric Nelsen wrote:
>
> I'm just guessing here--but a DOT on agricultural land is still effective
> as a mortgage, isn't it? So it can be judicially foreclosed like a mortgage?
>
>
>
> I think the alternative is having a mortgage (LPB Form 50) prepared
> instead of a DOT, but if the extent of lien protection and the available
> remedy are exactly the same as a DOT when it comes to agricultural land,
> maybe it's not worth it...
>
>
>
> Sincerely,
>
>
>
> Eric
>
>
>
> Eric C. Nelsen
>
> SAYRE LAW OFFICES, PLLC
>
> 1417 31st Ave South
>
> Seattle WA  98144-3909
>
> phone 206-625-0092
>
> fax 206-625-9040
>
>
>
> *Please Note that We Have Moved.*We have moved our Seattle office to
> Mount Baker Ridge (a small commercial community just above the I-90
> tunnel). *Our new address is 1417 31st Avenue South, Seattle WA 98144. *All
> other contact information remains the same.
>
>
>
> *From:* wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.
> wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>] *On Behalf Of *David
> Faber
> *Sent:* Thursday, September 15, 2016 10:18 AM
> *To:* wsbarp
> *Subject:* [WSBARP] Deed of Trust For Agricultural Land
>
>
>
> Real Property List:
>
>
>
> I am working on behalf of a buyer purchasing real property
> for-sale-by-owner with the seller carrying the note. The real property will
> be used in significant part as agricultural land. Being aware of the
> limiting language in the LPO form deed of trust ("which real property is
> not used principally for agricultural or farming purposes"), I called the
> closing agent and discussed the issue. At that point in time, they informed
> me that they could prepare a deed of trust for agricultural lands and I
> figured the issue was settled. Now that we're a couple days from closing
> closing, however, they have provided a deed of trust with the limiting
> language around agricultural land and I find I'm now in a bind. Any advice
> on what to do now? We're four days from closing.
>
>
> Best,
>
> David J. Faber
>
> Faber Feinson PLLC
>
> 210 Polk Street, Suite 1
>
> Port Townsend, WA 98368
> (360) 379-4110
>
>
>
> *** NOTICE: ATTORNEY CLIENT COMMUNICATION - PRIVILEGED & CONFIDENTIAL.
> This communication may contain privileged or other confidential
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