[WSBARP] receivership
Robert R. Cole
cole-gilday at stanwoodlaw.net
Fri Sep 25 15:56:13 PDT 2020
Client sold property on a Real Estate Contract. Buyer went belly up and
got put into a receivership. About the only asset in the receivership
is this property. Only potential buyers Receiver has come up with would
not pay off the REC in full, and those deals fell through. At the
beginning we told the Court that it should be for a limited time and it
should be a full payoff to REC Vendor. Couple questions: REC seems
more like an executory contract than a lien? Any helpful hints on
getting the REC out of the receivership?
--
Very Truly Yours,
Robert R. Cole
Law Office of Cole & Gilday, P.C.
10101 - 270th St. NW
Stanwood, WA 98292
(360) 629-2900 (Telephone)
(360) 629-0220 (Fax)
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