<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<meta name="Generator" content="Microsoft Word 14 (filtered medium)">
<style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
@font-face
{font-family:Verdana;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:12.0pt;
font-family:"Times New Roman","serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
span.EmailStyle17
{mso-style-type:personal-reply;
font-family:"Verdana","sans-serif";
font-variant:normal !important;
color:#1F497D;
text-transform:none;
font-weight:normal;
font-style:normal;
text-decoration:none none;
vertical-align:baseline;}
.MsoChpDefault
{mso-style-type:export-only;
font-family:"Calibri","sans-serif";}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]-->
</head>
<body lang="EN-US" link="blue" vlink="purple">
<div class="WordSection1">
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Verdana","sans-serif";color:#1F497D">The only real property lien that is appropriate is a Deed of Trust to secure the agreement for repayment. A Promissory Note is not needed, because the amount
due is not known. A written agreement defining the reimbursement would be needed. The amount due must be capable of determination at the time of default. It should be signed, acknowledged and recorded at the time of the agreement to perfect the lien position
and its enforceability against now unforeseen other creditors. Waiting until the sale would be foolish, not only risking loss of priority, but also risking a sale to persons who have no knowledge prior to the appearance of the last-minute recording in the
public records.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Verdana","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Verdana","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>James Van Damme<br>
<b>Sent:</b> Sunday, March 22, 2015 8:35 PM<br>
<b>To:</b> wsbarp@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBARP] voluntary lien on real property<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-left:.5in"><o:p> </o:p></p>
<div>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:9.5pt">PC's mother is elderly and is moving to a retirement home and they are planning on selling her mobile home. In the meantime the PC is paying the mother's monthly lot rent. PC wants
to be repaid from the proceeds. </span><o:p></o:p></p>
<div>
<p class="MsoNormal" style="margin-left:.5in"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:9.5pt">I could not find any specific statutory liens covering the situation. Is the proper procedure to execute a promissory note secured by a deed of trust? Should PC then file the deed
or wait until the home is sold. </span><o:p></o:p></p>
<div>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:9.5pt"><o:p> </o:p></span></p>
</div>
<div>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:9.5pt">Thank you<o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:9.5pt">James Van Damme <o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:9.5pt"><o:p> </o:p></span></p>
</div>
<div>
<p class="MsoNormal" style="margin-left:.5in"><span style="font-size:9.5pt"><o:p> </o:p></span></p>
</div>
<div>
<p class="MsoNormal" style="margin-left:.5in"><o:p> </o:p></p>
</div>
</div>
</div>
</div>
<hr style="height:1px;border:none;color:#000;background-color:#000;">
NOTICE: The information contained in this message is proprietary and/or confidential and may be privileged. If you are not the intended recipient of this communication, you are hereby notified to: (i) delete the message and all copies; (ii) do not disclose,
distribute or use the message in any manner; and (iii) notify the sender immediately.
</body>
</html>