[WSBARP] homestead and unsecured debt

[Kary L. Krismer]

Unless something has changed, (I haven't practiced for over 10 years), you  
don't need to record a homestead declaration if it's a house being lived  
in.  Also, the amount is only $125,000 of equity.  Also, they could record  
with the county auditor and just wait, and that would interfere with your  
client's right to sell.

My main reason for writing though is I don't know where your client is  
located, obviously not Seattle if their property is worth $100,000.  But  
values a lot of places have been going up.  Many people do not know the  
value of their property.

I would focus more on whether their other assets are exempt and whether  
their income is exempt.  Creditors don't like to sue people who they  
cannot garnish.  If they can garnish wages, that would be a problem.

Kary L. Krismer
John L. Scott/KMS Renton
206 723-2148

On Thu, 04 May 2017 16:20:24 -0700, Josh Grant <jgrant at accima.com> wrote:

> This is a collection case but it has a real property question I will  
> present here.
>Debtor client,  has an unsecured debt about $4000.  Residence is worth  
> about $100,000.  He has a prior >Mortgage $25,000.
>I would like to tell creditor “Sorry, but my man has a $250,000  
> homestead right here so go take a jump in the >lake)  (It is 81 degrees  
> outside today).  If you get a judgment you still won’t be able to do  
> anything, here is a >copy of his homestead declaration (which I will now  
> prepare and record).
>Any thoughts?
>Josh
>Joshua F. Grant, PS
> Attorney at Law
> P. O. Box 619
> Wilbur, WA 99185
> tel 509 647 5578
> fax 509 647 2734



-- 
Kary L. Krismer
206 723-2148

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