[WSBARP] Creditor of Property Subject to Sale by Receiver

[Ryan P. Coon]

Listies,

I'm unfamiliar with receiverships and am looking for a little guidance, 
particularly on how these function procedurally.

Client (C) sold property in County A to Purchaser (P) in a seller 
financed transaction (Promissory Note & DOT), where C is the beneficiary 
of the Note and DOT. The property is actually a tribal lease, so 
technically the sale was an Assignment of Lease, if that's important. P 
was thereafter involved in a lawsuit (unrelated to the property or my 
client) in County B wherein a large judgment was had against P and Lis 
Pendens filed against the property. Subsequent to the judgment, a 
receiver was appointed in that same action. C recently was served with 
the Receivers motion to sell the property which includes the request to 
order the sale free and clear of all liens and encumbrances .

Having read through much of the Receiver Statute (RCW 7.60) I understand 
that the unsatisfied liens attach to the proceeds in the same order of 
priority as they were attached to the property. Is that attachment 
automatic or do we need file or do something to accomplish or perfect 
that attachment? To make a claim to the proceeds do we need to file a 
response to the Motion to Sell Estate Property. Or will we need to to 
file or respond to a separate motion?

Any guidance on this process would be greatly appreciated. If the 
answers are is too complex for this forum is there anyone who would be 
willing to talk me through this? Thank you.

-- 

Very Truly Yours,

Ryan P. Coon

Law Office of Cole & Gilday, P.C.

//

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Stanwood, WA 98292

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