[WSBARP] Deed in Lieu of Forfeiture
Kary Krismer
Krismer at comcast.net
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 (although once the contract was rescinded, if the rescission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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