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<p class="MsoNormal">However, according to the Klickman case 716 P 2d 840 an agreement to divide proceeds from the sale of property “is not a title defect because it does not affect title.” Since Buyer demands clear title, then this should not be an encumbrance.
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">Douglas W. Scott<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Law Offices of Douglas W. Scott<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Windermere Building<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">1810 15th Place NW, Suite 203<br>
Issaquah, Washington, 98027<br>
V. 425.392.8550<br>
F. 425-392-2829 <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><a href="http://www.davisscottlaw.com/">www.davisscottlaw.com</a><o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><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>John McCrady<br>
<b>Sent:</b> Tuesday, March 07, 2017 10:30 AM<br>
<b>To:</b> WSBA Real Property Listserv<br>
<b>Subject:</b> Re: [WSBARP] last minute cloud on title<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">From the facts given, I don’t think a title company would take such an indemnity due to the uncertainty of what the other party is demanding and of how to calculate the potential loss.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:HelveticaNeueETW01-55Rg;color:#1F497D">John McCrady<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:HelveticaNeueETW01-55Rg;color:#1F497D">Counsel</span><span style="color:#1F497D"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Puget Sound Title Company<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">5350 Orchard Street West<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">University Place WA 98466<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">253-476-5721<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Richard Holland<br>
<b>Sent:</b> Tuesday, March 07, 2017 10:02 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] last minute cloud on title<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">The Seller is demanding clear title?<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Holdback/indemnification might work for the parties at 1.5 times the amount but there isn’t any requirement that the Title Company agree to it. My guess is that it depends on the amount in dispute. Unfortunately, Slander of Title won’t
work until the sale actually fails as I understand that cause of action because as of now you don’t actually have a loss, just a potential loss. It wouldn’t be ripe if memory serves.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">On mobile so sorry this is cryptic<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Rich Holland<o:p></o:p></p>
<p class="MsoNormal"><a href="mailto:rich@pnwle.com">rich@pnwle.com</a> <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">
wsbarp-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">mailto:wsbarp-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Douglas W. Scott<br>
<b>Sent:</b> Tuesday, March 07, 2017 8:04 AM<br>
<b>To:</b> WSBA Real Property Listserv (<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>) <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] last minute cloud on title<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">CR2A Agreement states that a party to the litigation gets a percent of the proceeds on the sale of the Property. No requirement that they be informed of pre-closing info because they may hamper closing. 2 days before closing the party
records the CR2A against the Property alleging wrongfully that it has been breached. Title Co. acknowledges that it is not a lien, but won’t clear title because of “risk”. Buyer demands clear title . Property Owner is 94 years old and closing is in jeopardy.
OPTIONS: slander of title action; holdback of funds to indemnify title co.; give party all info and hope they don’t use leverage and ask for more money. Any suggestions?
<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">Douglas W. Scott<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Law Offices of Douglas W. Scott<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif"">Windermere Building<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">1810 15th Place NW, Suite 203<br>
Issaquah, Washington, 98027<br>
V. 425.392.8550<br>
F. 425-392-2829 <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial","sans-serif""><a href="http://www.davisscottlaw.com/">www.davisscottlaw.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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