[WSBARP] Real Estate Contract

[John McCrady]

Whether the owner of the property is purchasing under a Real Estate Contract or is financing using a Deed of Trust, the conveyance to the trust is the same:
“John Jones and Mary Jones, a marital community” would convey to “John Jones and Mary Jones, as Trustees of the John Jones and Mary Jones Living Trust dated June 1, 2020”
You would use the same type of deed in either situation; quit claim deed, bargain and sale deed or Statutory Warranty Deed, depending on your preference.

John McCrady
Counsel
Puget Sound Title Company
5350 Orchard Street West
University Place WA 98467
253-476-5721
j.mccrady at pstitle.com<mailto:j.mccrady at pstitle.com>



Beginning July 26, 2021, recording fees for most documents recorded in Washington will increase by $100<https://www.piercecountywa.gov/DocumentCenter/View/105275/Recording-Fee-Schedule-Effective-Jul-25-2021->. Please be sure to collect recording fees accordingly. Due to the above increase, our Reconveyance fees will also be increased by $100.00

WARNING-FRAUDULENT FUNDING INSTRUCTIONS
Email hacking and fraud are on the rise to fraudulently misdirect funds.  Please call your escrow officer immediately using contact information found from an independent source, such as the sales contract or internet, to verify any funding instructions received.  We are not responsible for any wire sent by you to an incorrect bank account.


From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Mark Anderson
Sent: Monday, May 02, 2022 5:16 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Real Estate Contract

If the property was sold under a real estate contract, and once the contract is paid in whole or otherwise satisfied, the seller would ultimately convey fee simple title by executing and recording a statutory warranty deed (fulfillment).  That wraps up the contract.  Usually, the excise tax was paid upon recording the contract.

Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
+1 253-327-1751 (fax)
marka at mbaesq.com<mailto:marka at mbaesq.com>
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From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of Jan Kelly
Sent: 04/28/2022 9:31 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: Re: [WSBARP] Real Estate Contract

I just realized that my original post was unclear. I am asking about conveying the property from the grantor/owner to the trustee of the RLT.  Is there anything additional to do other than recording a deed? I apologize for the confusion.

On Thu, Apr 28, 2022 at 9:20 AM Bryce Dille <Bryce at dillelaw.com<mailto:Bryce at dillelaw.com>> wrote:
If it was a real estate contract the conveyance to the RLT would be a sellers assignment of contact and deed if was a deed of trust it would be assignment of deed of trust and and note I believe there maybe LPO forms on both if not let me know

Bryce H. Dille
Dille Law, PLLC
2010 Caton Way SW Ste. 101
Olympia, WA 98502
Office: 360-350-0270
Cell: 253-579-5561

[R_Alan_Swanson-WH-200]
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Business Entity Creation and Management, Business, Government and Tax Law, Real Estate and Land Use, Residential, Commercial and Condominium Development Real Estate and Commercial Transactions & Closings, Including Performing Services as IRS Section 1031 Exchange Facilitator Estate Planning, including Wills and Trusts, and Probate Administration Representation Homeowners/Condominium Association Real Estate Developments Real Property Foreclosures and Forfeitures.

From: wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com> <wsbarp-bounces at lists.wsbarppt.com<mailto:wsbarp-bounces at lists.wsbarppt.com>> On Behalf Of Jan Kelly
Sent: Thursday, April 28, 2022 8:46 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Subject: [WSBARP] Real Estate Contract

Good morning,

I rarely see real estate contracts anymore. Can you tell me if there is any difference between a real estate contract and deed of trust as it relates to conveyance to the grantor's revocable living trust? Or refer me to a particular statute?

Thank you!


--

Jan Kelly, JD/MBA
Attorney at Law

JK Law
PO Box 1964
Poulsbo, WA 98370
Direct Line (702) 338-6733

Licensed in Nevada and Washington.

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--

Jan Kelly, JD/MBA
Attorney at Law

JK Law
PO Box 1964
Poulsbo, WA 98370
Direct Line (702) 338-6733

Licensed in Nevada and Washington.

[https://static.wealthcounsel.com/static/15185383862255917797.jpg]

THIS EMAIL MESSAGE AND ANY ATTACHMENTS ARE CONFIDENTIAL AND INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHICH IT IS ADDRESSED AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND EXEMPT FROM DISCLOSURE UNDER APPLICABLE LAW. Any unauthorized review, use, copying, disclosure or distribution of any information contained in or attached to this communication is STRICTLY PROHIBITED. If you have received this communication in error, or are not the named recipient, please immediately notify the sender by email by "reply to sender only" and delete this message and any attached documents from your computer. Receipt by anyone other than the intended recipient(s) is not a waiver of confidentiality and/or any legal privilege. Thank you.



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