[WSBARP] WSBARP Digest, Vol 31, Issue 3

Wed Apr 5 13:32:55 PDT 2017

Dave,
       What is the purpose of doing the QCD? Are you clients in a long term stable marriage? 
       There are several issues to think about. If it is a long term situation and very little possibility of a marital split, that is one thing. If it is a young couple, are they really wanting to create community property? If it is for the purpose of facilitating financing, they need to express the intention. If they are older and he just wants to make sure she ends up with the property, he can do a deed upon death which is reversible.
       The one issue a lot of people do not consider when they do deeds among family members is the effect on the title insurance in effect. As an example, A transfers to son B by QCD. B then sells by warranty deed to C. C discovers a title defect and makes claim against B. B has no coverage. In your case, since the guy is remaining on title, I think it is probably okay, but have never looked into it.

Steve

Stephen Whitehouse
Whitehouse & Nichols, LLP
P.O. Box 1273
601 W. Railroad Ave.
Shelton, Wa. 98584
360-426-5885
swhite8893 at aol.com

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Sent: Wed, Apr 5, 2017 12:00 pm
Subject: WSBARP Digest, Vol 31, Issue 3

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Today's Topics:

1. Can Condo Reserve Accounts be Invested? (Catherine Clark)
2. April 7 Real Property Seminar: Rapidly Developing Change
(Sherry Bosse Lueders)
3. Misgivings about JTWROS (Dave Culbertson)

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Message: 1
Date: Tue, 4 Apr 2017 22:14:52 +0000
From: Catherine Clark <Cat at loccc.com>
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Can Condo Reserve Accounts be Invested?
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<DM5PR02MB2634656689551DE1AD651AC6A30B0 at DM5PR02MB2634.namprd02.prod.outlook.com>

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All:

I have been asked if monies for a reserve account for condo/hoa can be invested.

Any thoughts on this would be appreciated.

Thanks.

Catherine C. Clark
Law Office of Catherine C. Clark PLLC
2200 Sixth Avenue, Suite 1250
Seattle, WA 98121
Phone: (206) 838-2528
Direct Dial: (206) 274-7941
Cell: (206) 409-8938
Fax: (206) 374-3003
Email: cat at loccc.com

NOTICE: The information contained in this electronic information transmission is confidential. If you are not the intended recipient, or the employee or agent responsible for delivering it to the intended recipient, you are hereby notified that any use, dissemination, distribution or copying of this communication is prohibited. If you received this communication in error, please immediately notify the sender by telephone at (206) 838-2528. Thank you.

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Message: 2
Date: Tue, 4 Apr 2017 23:36:15 +0000
From: Sherry Bosse Lueders <sherry at sherryluederslaw.com>
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] April 7 Real Property Seminar: Rapidly Developing
Change
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Message: 3
Date: Wed, 5 Apr 2017 18:27:01 +0000
From: Dave Culbertson <dculbertson at culbertsonlawoffice.com>
To: "wsbarp at lists.wsbarppt.com" <wsbarp at lists.wsbarppt.com>,
"wsbapt at lists.wsbarppt.com" <wsbapt at lists.wsbarppt.com>
Subject: [WSBARP] Misgivings about JTWROS
Message-ID: <43d15bedc78e48d0ac63164899a83eb7 at S05-MBX02-15.S05.local>
Content-Type: text/plain; charset="us-ascii"

Hello, Listmates.

A client asked me if doing a QCD of their home to their wife, with JTWROS language, would cause any issues. Not my main field, so I don't know, and I likely will advise them to go find out from a lawyer who spends more time on those issues. Something is nagging me about the combo of JWTROS and a QCD, but I may simply be mis-remembering something. Any thoughts?

Best Regards,

Dave Culbertson

The Law Office of Davisson Culbertson, PLLC
19909 Ballinger Way NE
Shoreline, WA 98155

Phone: (206) 478-8134
FAX: (866) 867-7796
dculbertson at culbertsonlawoffice.com<mailto:dculbertson at culbertsonlawoffice.com>

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