[WSBARP] Deed in Lieu of Forfeiture

[marc holmeslawgroup.com]

A quick search of King County records and I came up with this example (for what it’s worth): https://recordsearch.kingcounty.gov/LandmarkWeb/search/index?theme=.blue&section=searchCriteriaDocuments&quickSearchSelection=

Searched by Grantee – Green tree and limited results to deeds, omitting assignments.  I figured they probably did plenty of them and sure enough.  Other banks that probably did as well are BoNY Mellon, BofA, etc.



Marc Holmes, JD
Holmes Law Group PLLC
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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Jim Doran
Sent: Wednesday, October 16, 2019 3:53 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Deed in Lieu of Forfeiture

Maybe the good old Quit Claim Deed is the only assurance that the Seller needs and that's all.

James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com<mailto:jim at doranlegal.com>
www.doranlegal.com<http://www.doranlegal.com>


On Wed, Oct 16, 2019 at 1:49 PM Kailei Feeney <kailei at westseattlelaw.com<mailto:kailei at westseattlelaw.com>> wrote:
Hello Jim,

I think Mr. Owen’s valid point is that with a real estate contract, the seller does not convey a deed to the buyer until all obligations under the real estate contract have been satisfied.

As such, perhaps a deed back to seller is not appropriate (although once the contract was rescinded, if the rescission remained private, I could certainly see a QCD being used to clear title).

Regards,
Kailei
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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 Jim Doran
Sent: Wednesday, October 16, 2019 1:25 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: Re: [WSBARP] Deed in Lieu of Forfeiture

No.  There is such a thing as a Deed in Lieu of Forfeiture.  I could bootstrap a Quit Claim Deed into it.  but I thought a standard form would be available.

Thanks anyway for the thought.

Jim



James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com<mailto:jim at doranlegal.com>
www.doranlegal.com<http://www.doranlegal.com>


On Wed, Oct 16, 2019 at 1:16 PM Doug Owens <dougowens at seattlerelawyer.com<mailto:dougowens at seattlerelawyer.com>> wrote:
Dear Jim, it seems to me that since the vendee on a real estate contract has not previously received a deed that person would be unable to execute a deed back to the vendor.  Perhaps a rescission of the contract could be executed and recorded.  Just a thought.  Yours truly, Doug Owens

On Oct 16, 2019, at 11:20 AM, Jim Doran <jim at doranlegal.com<mailto:jim at doranlegal.com>> wrote:

Does anyone have a form for a Deed in Lieu of Forfeiture?  This is a real estate contract situation.  Forfeiture not foreclosure.

Thank you.

Jim Doran

James R. Doran
Attorney at Law
100 E. Pine Street -  Suite 205
Bellingham, WA 98225
(360)393-9506
jim at doranlegal.com<mailto:jim at doranlegal.com>
www.doranlegal.com<http://www.doranlegal.com/>
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