[WSBARP] Creditor of Property Subject to Sale by Receiver
Rod Harmon
rodharmon at msn.com
Wed Nov 10 15:14:07 PST 2021
File a secured claim. It is easy to do and will take less time than wondering whether you should file. It also helps the receiver keep straight who the creditors are and what are they owed and whether they are secured.
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<mailto:rodharmon at msn.com>
From: wsbarp-bounces at lists.wsbarppt.com On Behalf Of Ryan P. Coon
Sent: Wednesday, November 10, 2021 2:55 PM
To: wsbarp at lists.wsbarppt.com
Subject: Re: [WSBARP] Creditor of Property Subject to Sale by Receiver
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 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.
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<https://na01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.rodharmon.com%2F&data=04%7C01%7C%7Cbe7730774a674c1fb55f08d9a49e0ee6%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637721821053277645%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=dtgoKXooUnxbJEpBlHf04PMMFcCy%2BYa%2BvLSrOYy2l5w%3D&reserved=0>
rodharmon at msn.com<mailto:rodharmon at msn.com>
From: wsbarp-bounces at lists.wsbarppt.com<mailto: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><mailto: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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