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<p class="MsoNormal" style="margin-bottom:10.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Another option I thought of would be to put D and B on title to the property as tenants-in-common only for a relatively small percentage,
and not as joint tenants. We would have to see what the lender says about how much of a security interest they want in the entirety of the property.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Carving off even a small chunk from the property will cost the client a small chunk of change. Not that I mind the work, mind you…<o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060;mso-ligatures:standardcontextual">Mark B. Anderson<br>
</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060;mso-ligatures:standardcontextual">ANDERSON LAW FIRM PLLC<br>
821 Dock St Ste 209 PMB 4-12<br>
Tacoma, Washington 98402<br>
+1 253-327-1750<br>
+1 253-327-1751 (fax)<br>
<a href="mailto:marka@mbaesq.com"><span style="color:#002060">marka@mbaesq.com</span></a><br>
<a href="http://www.mbaesq.com/"><span style="color:#002060">www.mbaesq.com</span></a><b><o:p></o:p></b></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>marc holmeslawgroup.com<br>
<b>Sent:</b> 02/13/2025 11:58 AM<br>
<b>To:</b> wsbarp@lists.wsbarppt.com<br>
<b>Subject:</b> Re: [WSBARP] Family Financing<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black">Two completely different types of loans. On leased land the home is personal property and gets a chattel loan which will typically have a higher interest rate and shorter term. If the home is permanently affixed
to privately owned land and the title eliminated it becomes real property and can get more conventional deed of trust type financing.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black">Years ago I was a GM of a dealership in Dallas and "deed in lieu" deals like this are very common in the industry. My advice would be don't put boyfriend on title even if that means a chattel loan (or no house)
is the only option. If he insists, carve off one acre (or the smallest chunk zoning will allow) to give to her. Make sure it's on the periphery of the 40 lots with direct road access and not anywhere in the middle with an easement through the parent parcel. <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:black">And be ready to bid on it when it eventually goes to foreclosure.<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black"> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>
<<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>> on behalf of Drayna, Paul S. <<a href="mailto:pdrayna@helsell.com">pdrayna@helsell.com</a>><br>
<b>Sent:</b> Thursday, February 13, 2025 1:41 PM<br>
<b>To:</b> <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> Re: [WSBARP] Family Financing</span> <o:p></o:p></p>
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<a href="https://godaddy.cloud-protect.net/email-details/?k=k1&payload=53616c7465645f5f207b12b2914d81416c9725ad8fc8e5e7d4a0922d563b47a507c2fe395ba6cff01342aa131d9281b5d3d4140801028a6e6c1b65a698933aab3fd723c51bf7390e353a3148b78041155ba0c5cd69d8cff2ae92c204c6604ed914816bcf7bd7b6139a7b16a6e7cab869f9ae3fbbbd5cb10b01770e938bf8f80979878f83f4dd28346dc00f78825152783febb4b7ef6c7beb51bc2a2e8aad47ddc69ffe8462074f42038b29aa1d2072202835dc2a33b76811efcab7c5b6260807f23b5c7a5cae743cfa028b601fc92a83925b1790847538986389b309452ceb041471470bf014fba74243c364f23161aa">
<span style="color:black;text-decoration:none">("Drayna, Paul S." <pdrayna@helsell.com>)</span></a><o:p></o:p></span></p>
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<p style="margin-bottom:10.0pt"><span style="font-size:11.0pt;color:black">Many (most) mobile homes end up in parks where the owner of the home does not own the land – they lease it. Would lender accept a long term lease instead of adding borrowers to title?</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
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<p><b><span style="font-size:10.0pt;color:black">Paul S. Drayna</span></b><span style="font-size:10.0pt;color:black"> |
</span><b><span style="font-size:10.0pt;color:#4472C4">Helsell Fetterman LLP</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p><span style="font-size:10.0pt;color:black">Attorney | Of Counsel</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p><span style="font-size:10.0pt;color:black">800 Fifth Avenue, Suite 3200</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p><span style="font-size:10.0pt;color:black">Seattle, WA 98104</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p><span style="font-size:10.0pt;color:black">Direct: 206.689.2177</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p><u><span style="font-size:10.0pt;color:#0563C1"><a href="mailto:pdrayna@helsell.com"><span style="color:#0563C1">pdrayna@helsell.com</span></a></span></u><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p><i><span style="font-size:10.0pt;color:black">he/him pronouns</span></i><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
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<p><i><span style="font-size:10.0pt;color:black">This e-mail may contain confidential information which is legally privileged. The information is solely for the use of the addressee(s) named above. If you are not the intended recipient, please notify us by
return e-mail and delete this message. Thank you.</span></i><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
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<p style="margin-bottom:10.0pt"><span style="font-size:11.0pt;color:black"> </span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
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<p><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black"> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>
<<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b><a href="mailto:marka@mbaesq.com">marka@mbaesq.com</a><br>
<b>Sent:</b> Thursday, February 13, 2025 11:20 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> [WSBARP] Family Financing</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
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<p style="margin-bottom:10.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"> <o:p></o:p></span></p>
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<p><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:black">The e-mail message that is shown below had a DKIM signature which failed to be validated. This could indicate the message is spoofed.</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
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<p><b><span style="color:red">[EXTERNAL MESSAGE]</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p style="margin-bottom:10.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Dear Colleagues:</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p style="margin-bottom:10.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Client owns 40 acres of vacant real property. Client's daughter (D) and her boyfriend (B) want to purchase a mobile home and place it on the property.
Client is okay with this. However, to get financing for the mobile home, prospective lender requires that both D and B be on title to the property (D cannot get financing on her own).</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p style="margin-bottom:10.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Client is understandably reluctant to bring B onto title. And Client does not want to cosign for the loan.</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p style="margin-bottom:10.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Any suggestions as to how to proceed?</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p style="margin-bottom:10.0pt"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Thanks.</span><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#071320"><o:p></o:p></span></p>
<p><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">Mark B. Anderson<br>
</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">ANDERSON LAW FIRM PLLC<br>
821 Dock St Ste 209 PMB 4-12<br>
Tacoma, Washington 98402<br>
+1 253-327-1750<br>
+1 253-327-1751 (fax)<br>
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