[WSBARP] unmarried couple - property agreement?

[Craig Blackmon]

A good TIC Agreement addresses several important issues, far more than just
percentage ownership. See a simple outline attached.

CB
Craig Blackmon, Attorney at Law
<https://www.mywsba.org/PersonifyEbusiness/LegalDirectory/LegalProfile.aspx?Usr_ID=000000029240>
92 Lenora St., Seattle WA  98121
Office/Cell: (206) 369-5949
On the blog: The Form 17, Explained
<https://seattlepropertylawyer.com/blog/seller-disclosure-statement-form-17-explained>
CONFIDENTIALITY NOTICE: This communication is a private, confidential
electronic communication encompassed by 18 USC 2510. It is for the sole use
of the intended recipient and receipt by anyone other than the intended
recipient does not constitute a loss of its confidential or privileged
nature.  Any review or distribution by others is strictly prohibited. If
you are not the intended recipient please inform the sender and destroy all
copies.


On Tue, May 12, 2020 at 12:27 PM Kary Krismer <Krismer at comcast.net> wrote:

> What's the purpose of recording the co-tenancy agreement if there's a
> 50/50 ownership?  I've always thought the only purpose of recording is to
> impart notice on third parties, and with the presumption being a 50/50
> ownership I'm not seeing what's accomplished if there is equal ownership.
>
> Kary L. Krismer
> 206 723-2148
>
> On 5/12/2020 12:10 PM, Gregory L. Ursich wrote:
>
> I agree with everything Dwight said.  Always, always have a co-tenancy
> agreement and record it.  I have done several of those.  Also, depending on
> the relationship, the parties can also choose to take title as Joint
> Tenants with Rights of Survivorship, but you still prepare and record a
> co-tenancy agreement.  -Greg
>
>
>
> *Gregory L. Ursich *
>
> Shareholder
>
> Skyline Tower, Suite 1500 | 10900 NE 4th Street | Bellevue, WA 98004
>
> P: 425.450.4258 | F: 425.635.7720
>
> *vCard <http://www.insleebest.com/uploads/vcards/gursich.vcf>* |*website
> <http://www.insleebest.com/>* |*gursich at insleebest.com
> <gursich at insleebest.com>*
>
>
>
> This electronic mail transmission is privileged and confidential and is
> intended only for the review of the party to whom it is addressed.  If you
> have received this transmission in error, please immediately return it to
> the sender.  Unintended transmission shall not constitute waiver of the
> attorney-client or any other privilege.
>
>
>
> *From:* wsbarp-bounces at lists.wsbarppt.com [
> mailto:wsbarp-bounces at lists.wsbarppt.com
> <wsbarp-bounces at lists.wsbarppt.com>] *On Behalf Of *Dwight Bickel
> *Sent:* Tuesday, May 12, 2020 12:00 PM
> *To:* WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
> <wsbarp at lists.wsbarppt.com>
> *Subject:* Re: [WSBARP] unmarried couple - property agreement?
>
>
>
>  I wouldn't buy real property with anyone without a co-tenancy agreement
> recorded. No matter what is stated with respect to each other's
> expectations, there should be a portion of the agreement that is recorded
> to disclose limitations upon common law tenancy in common rights and
> obligations, so it is binding upon potential successors in title without
> actual notice of the agreement. Most important to limit the rights of one
> co-tenant in the event of a lien, or acquisition of title, by creditors of
> that co-tenant. I don't think the law would support a prohibition against
> liens, like you cannot contractually limit bankruptcy rights, but you can
> include a waiver of a right of partition and include mandatory obligations
> to sell to the other.
>
>
>
> Dwight A. Bickel
>
> Washington Title Professional
>
> dwightbickel at hotmail.com
>
> www.linkedin.com/in/dwightbickel
>
> http:/www.titleadvisor.com
>
> 206-484-1976
>
>
>
>
>
> ***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***
>
> _______________________________________________
> WSBARP mailing listWSBARP at lists.wsbarppt.comhttp://mailman.fsr.com/mailman/listinfo/wsbarp
>
> ***Disclaimer: Please note that RPPT listserv participation is not
> restricted to practicing attorneys and may include non-practicing
> attorneys, law students, professionals working in related fields, and
> others.***
>
> _______________________________________________
> WSBARP mailing list
> WSBARP at lists.wsbarppt.com
> http://mailman.fsr.com/mailman/listinfo/wsbarp
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20200512/e427e0e6/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image003.jpg
Type: image/jpeg
Size: 5282 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20200512/e427e0e6/image003.jpg>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: Simple TIC Agmt Outline.docx
Type: application/octet-stream
Size: 6718 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20200512/e427e0e6/SimpleTICAgmtOutline.docx>