[WSBARP] Deed in Lieu of Forfeiture

[Andrew Hay]

In addition to the quit claim or deed in lieu, I would do an agreement that the Real Estate Contract or Deed of Trust is not merged into the deed so that if a subsequent foreclosure is needed, that can be done.

Andrew Hay
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Jim Doran
Sent: Wednesday, October 16, 2019 2:17 PM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] Deed in Lieu of Forfeiture

I suggested that the client get a title report done.

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>
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On Wed, Oct 16, 2019 at 2:06 PM Kary Krismer <Krismer at comcast.net<mailto:Krismer at comcast.net>> wrote:

There is the issue of non-merger if there's an unknown junior interest.

Kary L. Krismer

206 723-2148
On 10/16/2019 1:52 PM, Jim Doran wrote:
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
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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As such, perhaps a deed back to seller is not appropriate (although once the contract was rescinded, if the rescission remained private, I could certainly see a QCD being used to clear title).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
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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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