[WSBARP] Gift Deed

[nestor at pplsweb.com]

What if Daughter remains on title along with parents?

 

 

Nestor Gorfinkel, Attorney at Law

Licensed in Washington & Florida

Florida Civil-Law (International) Notary

 

ATTENTION - This e-mail message and any attachment to this e-mail message
may contain confidential information that is legally privileged. If you are
not the intended recipient, you must not review, retransmit, convert to hard
copy, copy, use or disseminate this e-mail or any attachments to it. If you
have received this e-mail in error, please notify us immediately by return
e-mail or by telephone at the phone numbers provided herein and delete this
message. Please note that if this e-mail message contains a forwarded
message or is a reply to a prior message, some or all of the contents of
this message or any attachments may not have been produced by the sender.

 

P Please consider the environment before printing this e-mail.

 

 

 

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
On Behalf Of John McCrady
Sent: Monday, April 8, 2019 2:06 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Gift Deed

 

>From a title company point of view, if daughter conveys title by Statutory
Warranty Deed, they would be covered under the covenants of warranty
contained in the deed.  They would not be insured under the Title Policy.
The daughter would continue to be covered under the title policy to the
extent she has liability under the covenants of warranty.

They may be able to accomplish their goals through the "Continuation of
Coverage" terms of the Alta Homeowner's Policy (should that be the policy
held by daughter):

1.	                CONTINUATION OF COVERAGE

a. This Policy insures You forever, even after You no longer have Your
Title. You cannot assign this Policy to anyone else.

b. This Policy also insures:

(1) anyone who inherits Your Title because of Your death; 

(2) Your spouse who receives Your Title because of dissolution of Your
marriage; 

(3) the trustee or successor trustee of a Trust to whom You transfer Your
Title after the Policy Date; or

(4) the beneficiaries of Your Trust upon Your death.

c. We may assert against the insureds identified in Section 2.b. any rights
and defenses that We have against any previous insured under this Policy.

 

Other title policy forms have similar provisions.  Daughter and parents
should review the title policy and discuss with the issuer how to accomplish
their goals.

 

John McCrady

Counsel

Puget Sound Title Company

5350 Orchard Street West

University Place WA 98467

253-476-5721

j.mccrady at pstitle.com <mailto:j.mccrady at pstitle.com> 

 

From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of nestor at pplsweb.com
<mailto:nestor at pplsweb.com> 
Sent: Monday, April 08, 2019 12:03 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: [WSBARP] Gift Deed

 

Daughter want to quitclaim to parents. Parents want to be covered under the
title insurance without paying a premium (of course). If Daughter executes a
warranty deed, will the parents be covered with exception to of anything as
of the date of transfer and any issue arising under the daughter? If not
full coverage, what will they have?

 

 

Nestor Gorfinkel, Attorney at Law & Florida Civil-Law Notary

Admitted to practice law in Florida & Washington

 

ATTENTION - This e-mail message and any attachment to this e-mail message
may contain confidential information that is legally privileged. If you are
not the intended recipient, you must not review, retransmit, convert to hard
copy, copy, use or disseminate this e-mail or any attachments to it. If you
have received this e-mail in error, please notify us immediately by return
e-mail or by telephone at the phone numbers provided herein and delete this
message. Please note that if this e-mail message contains a forwarded
message or is a reply to a prior message, some or all of the contents of
this message or any attachments may not have been produced by the sender.

 

P Please consider the environment before printing this e-mail.

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20190408/e5bfda74/attachment.html>