[WSBARP] Tenancy in Common Agreement

[Howard Herman]

Nestor,

We use a document entitled: Notice of Real Estate Contract

It needs to have sufficient information to identify the parties and the
property. No particular form. Might want to check with your local title co.

 

RCW  <http://app.leg.wa.gov/RCW/default.aspx?cite=65.08.030> 65.08.030

Recorded irregular instrument imparts notice.

An instrument in writing purporting to convey or encumber real estate or any
interest therein, which has been recorded in the auditor's office of the
county in which the real estate is situated, although the instrument may not
have been executed and acknowledged in accordance with the law in force at
the time of its execution, shall impart the same notice to third persons,
from the date of recording, as if the instrument had been executed,
acknowledged, and recorded, in accordance with the laws regulating the
execution, acknowledgment, and recording of the instrument then in force.

[
<http://leg.wa.gov/CodeReviser/documents/sessionlaw/1953c115.pdf?cite=1953%2
0c%20115%20%C2%A7%201.> 1953 c 115 § 1. Prior:
<http://leg.wa.gov/CodeReviser/documents/sessionlaw/1929c33.pdf?cite=1929%20
c%2033%20%C2%A7%208;> 1929 c 33 § 8; RRS § 10599.]

 

Howard Herman

509.220.5810

 

 

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
On Behalf Of nestor at pplsweb.com
Sent: Thursday, February 7, 2019 6:10 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Tenancy in Common Agreement

 

I would like to make the agreement of record. 

 

 

Nestor Gorfinkel, Attorney at Law

Licensed in Washington & Florida

Florida Civil-Law (International) Notary

 

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From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
<wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com> > On Behalf Of Howard Herman
Sent: Thursday, February 7, 2019 4:59 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: Re: [WSBARP] Tenancy in Common Agreement

 

Why not a partnership buy/sell agreement as to the property, binding upon
the parties, their heirs, successors and assigns. Incorporating such other
terms and conditions as agreed upon.

 

Howard Herman

 

From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
<wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com> > On Behalf Of Eric Nelsen
Sent: Thursday, February 7, 2019 1:16 PM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: Re: [WSBARP] Tenancy in Common Agreement

 

I think either could work. Depending on terms it might be more like a right
of first refusal than an option to purchase. But in any event, you could put
in a termination date that is comfortable far in the future to ensure that
your client can be sure, if he doesn't want the property by then, he won't
want it at all.

 

If you don't want a termination date at all, certainly a TIC agreement could
work. You probably need a covenant as well, to agree not to sue for
partition.

 

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

 

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: Thursday, February 07, 2019 10:56 AM
To: 'WSBA Real Property Listserv'
Subject: [WSBARP] Tenancy in Common Agreement

 

A PC comes in and owns property with another couple. He wants to Buy them
out down the road and they agreed. He is afraid that if they should die
first, then the estate may or may not sell to him.

 

Is a tenancy in common agreement or option to purchase the way to go. My
concern with the option to purchase is that it must have a termination date,
if not it can be held unenforceable.

 

What do you my learned colleagues suggest?

 

Nestor Gorfinkel, Attorney at Law

Licensed in Washington & Florida

Florida Civil-Law (International) Notary

 

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may contain confidential information that is legally privileged. If you are
not the intended recipient, you must not review, retransmit, convert to hard
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P Please consider the environment before printing this e-mail.

 

 

 

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