The Division II Court of Appeals recently decided that the Washington Deeds of Trust Act prohibited a lender from obtaining a deficiency judgment against a commercial guarantor where the guaranty was secured by nonjudicially foreclosed deeds of trust. First-Citizens Bank…
Read MoreA condominium is a way of organizing ownership in real property. Condominiums are used when portions of a larger piece of real property may be portioned into smaller “units,” and then the owners of such units share in the use…
Read MoreEstoppel certificates are documents that establish facts that the signing party then cannot contradict. Estoppel certificates are very common when dealing with commercial property. In the commercial property context, estoppel certificates are relatively simple documents that request a tenant to provide/verify…
Read MoreSellers of undeveloped land selling to buyers who plan on developing the land often want the buyer’s development work if the buyer does not follow through with the deal. In Mangat v. Snohomish County, No. 67712-8, (Div. 1, Aug. 26, 2013),…
Read MoreWashington law generally permits deeds of trust to be foreclosed upon by non-judicial trustee’s sale. This provides secured creditors with a faster and generally less expensive alternative to judicial foreclosure. Washington law affords debtors additional protections where a creditor elects…
Read MoreThere has long been doubt and ambiguity in Washington about whether consideration must be recited in a deed gifting real property, but a Washington Court of Appeals has recently dispelled the confusion. The requirements for transferring real property vary from…
Read MoreThe City of Seattle’s relatively recent Rental Registration and Inspection Ordinance (Seattle Municipal Code (“SMC”) 22.214) requires most landlords that provide rental housing to be registered with the City of Seattle’s Department of Planning and Development between 2014 and 2016,…
Read MoreIn a recent decision, the Washington Court of Appeals reinforced the rule that where a purchaser of real property has notice of a defect, the purchaser must make further inquiry of the seller. If the purchaser fails to do so,…
Read MoreA Real Estate Investment Trust (REIT) is a corporation, trust, or association that combines the capital of investors to own and many times operate income-producing real estate (e.g., apartments). Generally, to be considered a REIT, the REIT must pay at least…
Read MoreMany leases contain provisions allowing for the tenant to renew the lease. The material terms during the optional renewal period must be specified sufficiently so as not to be considered vague. Thus, if a renewal option leaves all the terms…
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