[WSBARP] Post-Divorce QCD Catch 22
Ryan P. Coon
cole-gilday at stanwoodlaw.net
Fri Jul 30 11:56:13 PDT 2021
Listmates,
I've got a client needing to record a QCD to separate property
post-divorce but is running into what seems to be a "catch 22" problem
so I'm looking for some creative solutions.
Client by divorce decree is awarded the family home and thus needs to
record a QCD from ex-spouse to separate the property. However, there is
a large amount of outstanding property taxes due (several years worth)
and the county (Island) is refusing to record the deed without the taxes
being made current. Client doesn't have the funds to bring taxes current
so is seeking a loan to pay the taxes. However, client is having trouble
procuring a loan because the bank is requiring signature of ex-spouse
since ex-spouse's name is on the property but ex-spouse will not sign
off on the loan.
Thus, client can't record a QCD because they don't have the money to pay
the taxes but their having trouble getting the money to pay the taxes
without first recording the QCD.
Any thoughts or creative work-arounds for this would be much
appreciated, thank you.
--
Very Truly Yours,
Ryan P. Coon
Law Office of Cole & Gilday, P.C.
//
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Stanwood, WA 98292
(360) 629-2900 (Telephone)
(360) 629-0220 (Fax)
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