[WSBARP] Real Estate Contract and Ownership

[John McCrady]

See also:
Griffith v. Whittier, 37 Wn 2d 351; Kendrick v. Davis 75 Wn 2d 1456;  Norlen v. Montgomery, 59 Wn 2d 269; Desmond v. Shotwell, 142 Wash 187

Basically, the courts so construed Real Estate Contracts in such a way that a  contract purchaser has all the elements of ownership except what we sometimes call the "naked fee", and the Real Estate Contract is really a species of mortgage.



John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98467
253-476-5721
j.mccrady at pstitle.com

From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Kary Krismer
Sent: Wednesday, January 24, 2018 6:50 AM
To: wsbarp at lists.wsbarppt.com
Subject: Re: [WSBARP] Real Estate Contract and Ownership


Absent a default, correct, and even then I think you'd likely have to go through the statutory procedure for forfeit out the interest.

You might want to look at Cascade Security Bank v. Butler, 88 Wn2d 777 (1977) and maybe even Freeborn v. Seattle Trust, 94 Wn.2d 336 (1980), although to some extent these cases deal with perfection issues.

Kary L. Krismer

John L. Scott/KMS Renton

206 723-2148
On 1/23/2018 9:33 PM, Scott Hildebrand wrote:
In Washington, we hardly ever deal with these things, so I thought I would throw it out to the group.

I have a client who is trying to buy a house from someone who is the heir of the owner who gave a real estate contract to the current purported owner of the property.
The purported owner has recorded no deed, but has recorded a real estate contract which includes phrasing that, upon completion of the payments, the buyer will receive a fulfillment deed.
Apparently, something has gone wrong and the party granting a real estate contract wants to renig and sell to my client. They are arguing that the purported owner does not hold title because he never recorded a deed.
I recall, from those many years ago, that a real estate contract or a "contract for deed" gives all the trappings of ownership to the buyer, they just do not get a deed until their obligations are fulfilled, correct?
So the question is, can I file a quiet title action to establish ownership in the party granting the real estate contract. Methinks the answer is no..no??

Thanks in advance,
Scott Hildebrand




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