[WSBARP] Post-Divorce QCD Catch 22

[Andrew Hay]

Get Ex-Husband QCD into escrow for recording when loan funds.  Condition loan funding on recording QCD

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>
He/him/his
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, July 30, 2021 11:56 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Post-Divorce QCD Catch 22


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.

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

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