[WSBARP] Deed in Lieu of Forfeiture

Wed Oct 16 14:41:04 PDT 2019

Yes, a title report would be necessary to know if you should even bother 
with a deed in lieu.  And I would think you would need to have the title 
company be involved with the recording process due to the possibility of 
late filed judgments, liens and  such.  I know title companies are 
willing to cover such items in ordinary course transactions, but I don't 
know the same is true of deed in lieu transactions.  And if they do 
cover then they would probably want non-merger language too, so they 
would have an alternative to paying off the item, or at least settlement 
leverage.

Kary L. Krismer
206 723-2148

On 10/16/2019 2:17 PM, Jim Doran wrote:
> 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>
> www.doranlegal.com <http://www.doranlegal.com>
>
>
> 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
>>     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         (although once the contract was rescinded, if the rescission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
>>
>>         Kailei B. Feeney*
>>         */Attorney-at-Law/
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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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