<div dir="ltr"><font color="#333333">In Re McDaniel, 89 B.R. 861 (Bankr. E.D. Wash. 1988) contains and excellent discussion of the evolution of REK's and the nature of ownership and security interests of the parties.</font><span style="text-align:left;color:rgb(51,51,51);text-transform:none;text-indent:0px;letter-spacing:normal;font-family:"Helvetica Neue",Helvetica,Arial,sans-serif;font-style:normal;font-variant:normal;text-decoration:none;word-spacing:0px;display:inline;white-space:normal;float:none;background-color:transparent"> </span></div><div id="DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2"><br>
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</table><a href="#DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2" width="1" height="1"></a></div><div class="gmail_extra"><br><div class="gmail_quote">On Wed, Jan 24, 2018 at 11:44 AM, John McCrady <span dir="ltr"><<a href="mailto:j.mccrady@pstitle.com" target="_blank">j.mccrady@pstitle.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div lang="EN-US" bgcolor="white" vlink="#954F72" link="#0563C1"><div class="m_-7040904249910020480WordSection1"><p class="MsoNormal"><span style="color:#1f497d">See also:<u></u><u></u></span></p><p class="MsoNormal">Griffith v. Whittier, 37 Wn 2d 351; Kendrick v. Davis 75 Wn 2d 1456; Norlen v. Montgomery, 59 Wn 2d 269; Desmond v. Shotwell, 142 Wash 187<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal">Basically, the courts so construed Real Estate Contracts in such a way that a contract purchaser has all the elements of ownership except what we sometimes call the “naked fee”, and the Real Estate Contract is really a species of mortgage.<u></u><u></u></p><p class="MsoNormal"><u></u> <u></u></p><p class="MsoNormal"><span style="color:#1f497d"><u></u> <u></u></span></p><p class="MsoNormal"><span style="color:#1f497d"><u></u> <u></u></span></p><div><p class="MsoNormal"><span style="color:#1f497d">John McCrady<u></u><u></u></span></p><p class="MsoNormal"><span style="color:#1f497d">Counsel<u></u><u></u></span></p><p class="MsoNormal"><span style="color:#1f497d">Puget Sound Title Company<u></u><u></u></span></p><p class="MsoNormal"><span style="color:#1f497d">5350 Orchard Street West<u></u><u></u></span></p><p class="MsoNormal"><span style="color:#1f497d">University Place WA 98467<u></u><u></u></span></p><p class="MsoNormal"><span style="color:#1f497d">253-476-5721<u></u><u></u></span></p><p class="MsoNormal"><span style="color:#1f497d"><a href="mailto:j.mccrady@pstitle.com" target="_blank">j.mccrady@pstitle.com</a><u></u><u></u></span></p></div><p class="MsoNormal"><span style="color:#1f497d"><u></u> <u></u></span></p><div><div style="border:none;border-top:solid #e1e1e1 1.0pt;padding:3.0pt 0in 0in 0in"><p class="MsoNormal"><b><span style="color:windowtext">From:</span></b><span style="color:windowtext"> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com" target="_blank">wsbarp-bounces@lists.wsbarppt.<wbr>com</a> [mailto:<a href="mailto:wsbarp-bounces@lists.wsbarppt.com" target="_blank">wsbarp-bounces@lists.<wbr>wsbarppt.com</a>] <b>On Behalf Of </b>Kary Krismer<br><b>Sent:</b> Wednesday, January 24, 2018 6:50 AM<br><b>To:</b> <a href="mailto:wsbarp@lists.wsbarppt.com" target="_blank">wsbarp@lists.wsbarppt.com</a><br><b>Subject:</b> Re: [WSBARP] Real Estate Contract and Ownership<u></u><u></u></span></p></div></div><p class="MsoNormal"><u></u> <u></u></p><p>Absent a default, correct, and even then I think you'd likely have to go through the statutory procedure for forfeit out the interest.<span style="font-size:12.0pt"><u></u><u></u></span></p><p>You might want to look at Cascade Security Bank v. Butler, 88 Wn2d 777 (1977) and maybe even Freeborn v. Seattle Trust, 94 Wn.2d 336 (1980), although to some extent these cases deal with perfection issues. <u></u><u></u></p><pre>Kary L. Krismer<u></u><u></u></pre><pre>John L. Scott/KMS Renton <u></u><u></u></pre><pre>206 723-2148<u></u><u></u></pre><div><p class="MsoNormal">On 1/23/2018 9:33 PM, Scott Hildebrand wrote:<u></u><u></u></p></div><blockquote style="margin-top:5.0pt;margin-bottom:5.0pt"><p class="MsoNormal">In Washington, we hardly ever deal with these things, so I thought I would throw it out to the group. <u></u><u></u></p><p class="MsoNormal"> <u></u><u></u></p><p class="MsoNormal">I have a client who is trying to buy a house from someone who is the heir of the owner who gave a real estate contract to the current purported owner of the property. <u></u><u></u></p><p class="MsoNormal">The purported owner has recorded no deed, but has recorded a real estate contract which includes phrasing that, upon completion of the payments, the buyer will receive a fulfillment deed. <u></u><u></u></p><p class="MsoNormal">Apparently, something has gone wrong and the party granting a real estate contract wants to renig and sell to my client. They are arguing that the purported owner does not hold title because he never recorded a deed. <u></u><u></u></p><p class="MsoNormal">I recall, from those many years ago, that a real estate contract or a “contract for deed” gives all the trappings of ownership to the buyer, they just do not get a deed until their obligations are fulfilled, correct? <u></u><u></u></p><p class="MsoNormal">So the question is, can I file a quiet title action to establish ownership in the party granting the real estate contract. Methinks the answer is no..no?? <u></u><u></u></p><p class="MsoNormal"> <u></u><u></u></p><p class="MsoNormal">Thanks in advance, <u></u><u></u></p><p class="MsoNormal">Scott Hildebrand <u></u><u></u></p><p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><br><br><br><u></u><u></u></span></p><pre>______________________________<wbr>_________________<u></u><u></u></pre><pre>WSBARP mailing list<u></u><u></u></pre><pre><a href="mailto:WSBARP@lists.wsbarppt.com" target="_blank">WSBARP@lists.wsbarppt.com</a><u></u><u></u></pre><pre><a href="http://mailman.fsr.com/mailman/listinfo/wsbarp" target="_blank">http://mailman.fsr.com/<wbr>mailman/listinfo/wsbarp</a><u></u><u></u></pre></blockquote><p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif"><u></u> <u></u></span></p></div></div><br>______________________________<wbr>_________________<br>
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