[WSBARP] Creditor of Property Subject to Sale by Receiver

[Ryan P. Coon]

Thank Stephen and Rod.

Rod, your quick synopsis is in line with my reading of the statute so I 
appreciate the confirmation. Where I'm most unclear is whether my client 
even needs to file a claim, regardless of notice. RCW 7.60.210(1) seems 
to exempt "creditors with security interests in or other liens against 
property of the estate" from having to serve such claims on the 
receiver. However, I would love some correction if I'm misreading the 
statute.

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 
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On 11/10/2021 2:19 PM, Rod Harmon wrote:
>
> You should receive a notice of a date by which you need to file a 
> claim with the receiver, and a claim form.  There is a statute 
> covering what information and documentation need to be in the claim, 
> but that will probably be in the notice from the receiver.  Look at 
> the proposed order for sale to make sure it explicitly protects your 
> lien against the proceeds.  The order should just allow sale and not 
> distribution of the sale proceeds.  Distribution should be the subject 
> of a later motion.
>
> Rod Harmon
>
> **
>
> *RODNEY T. HARMON*
>
> *Attorney at Law*
>
> P.O. Box 1066
>
> Bothell, WA   98041
>
> Tel:   (425) 402-7800
>
> Fax:  (425) 458-9096
>
> www.rodharmon.com <http://www.rodharmon.com>
>
> rodharmon at msn.com
>
> *From:*wsbarp-bounces at lists.wsbarppt.com *On Behalf Of *Ryan P. Coon
> *Sent:* Wednesday, November 10, 2021 12:22 PM
> *To:* WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
> *Subject:* [WSBARP] Creditor of Property Subject to Sale by Receiver
>
> 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.
>
> //
>
> 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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