[WSBARP] Can Realtor Have "In House" Title/Escrow Company?

[MK Henderson]

I remembered the law changed probably many years ago. It was customary for
real estate offices to "refer" clients to an escrow company and receive a
kick back but then the law required notice of the process.  I found the
statute by a google search.  Also, there was a CLE years ago about lawyer's
acting as real estate agents and escrow agents and the need to keep the two
separate even though you could do both.  It seems like disclosure is the
key.

On Mon, Oct 21, 2019 at 9:30 AM Kim Sandher <KSandher at pivotallawgroup.com>
wrote:

> Thank you! I found that RESPA section 1024.15 requires disclosure for an
> affiliated business arrangement, but can’t find anything specific to
> disclosing in Washington authority. Can I assume that’s where you got the
> disclosure requirement?
>
>
>
>
>
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> *Kim Sandher*
> Attorney at Law
>
> [image: cid:image001.jpg at 01D33B6F.7E8D8990]
>
> IBM Building
> 1200 5th Avenue, Suite 1217
> Seattle, Washington 98101
> Telephone 206.340.2008
>
> Direct 206.805.1490
> Facsimile 206.340.1962
> www.PivotalLawGroup.com <http://www.pivotallawgroup.com/>
>
>
>
>
>
> *From:* wsbarp-bounces at lists.wsbarppt.com [mailto:
> wsbarp-bounces at lists.wsbarppt.com] *On Behalf Of *MK Henderson
> *Sent:* Saturday, October 19, 2019 6:47 AM
> *To:* WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
> *Subject:* Re: [WSBARP] Can Realtor Have "In House" Title/Escrow Company?
>
>
>
> Look at RCW 18.44.305. The agent must disclose the relationship and party
> may chose to close with another company. If they are being required to use
> in house title/escrow that is wrong.
>
> On Friday, October 18, 2019, Kim Sandher <KSandher at pivotallawgroup.com>
> wrote:
>
> Hi All,
>
>
>
> Would anyone be able to point me to any legal authority that says whether
> a realtor can or cannot own an “in house” title/escrow company?
>
>
>
> Thank you in advance!
>
> Kim
>
>
>
>
>
>
>
> *Kim Sandher*
> Attorney at Law
>
> [image: cid:image001.jpg at 01D33B6F.7E8D8990]
>
> IBM Building
> 1200 5th Avenue, Suite 1217
> Seattle, Washington 98101
> Telephone 206.340.2008
>
> Direct 206.805.1490
> Facsimile 206.340.1962
> www.PivotalLawGroup.com <http://www.pivotallawgroup.com/>
>
>
>
>
>
>
>
> --
>
> Mary K. Henderson
>
> Henderson Law Office PLLC
> 1123 Maple Ave SW, Suite 225
>
> Renton, WA 98057
>
> 206-650-2472
>
>
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-- 
Mary K. Henderson
Henderson Law Office PLLC
1123 Maple Ave SW, Suite 225
Renton, WA 98057
206-650-2472
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