[WSBARP] PN and DOT enforcable against the borrower after years of nonpayment?

[Andrew Hay]

Hi Cole
I looked at this a while ago and here are two pretty new cases on it.  Without an acceleration, the statute only runs on payments due more than 6 years ago.

Andrew Hay
Hay & Swann PLLC
201 S. 34th St.
Tacoma, WA 98418
www.washingtonlaw.net<http://www.washingtonlaw.net/>
andrewhay at washingtonlaw.net<mailto:andrewhay at washingtonlaw.net>
253.272.2400 (w)
253.377.3085 (c)
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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Ryan P. Coon
Sent: Friday, April 16, 2021 3:27 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] PN and DOT enforcable against the borrower after years of nonpayment?


Dear Listies,

Client purchased a vacant parcel in 2003, seller financed via Promissory Note and Deed of Trust. Client stopped making payments on the Note during the 2008 housing crash and hasn't made any payments since. No attempts have been made to collect on the balance owed and no foreclosure attempted. Clients also haven't paid property taxes since sometime in 2008 or 2009. Someone has paid property taxes to prevent foreclosure, Client suspects the seller/lender.

Client now wonders whether, after 12-13 years of nonpayment, they can clear title in their name without paying the balance on the Note.

Any thoughts on what Clients options are? Can they claim Statute of Limitations? Adverse possession?
--


Very Truly Yours,
Ryan P. Coon
Law Office of Cole & Gilday, P.C.

10101 - 270th St. NW
Stanwood, WA 98292
(360) 629-2900 (Telephone)
(360) 629-0220 (Fax)

This message contains confidential and privileged information that is intended only for the named recipient(s).  Unless you are the named recipient or authorized agent thereof, you are prohibited from reading, copying, distributing or otherwise disseminating such information.  If you receive this communication in error, please notify the sender immediately.

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