Distressed home conveyance in WA state

Everett, WA Viewed 179 times. Posted about 1 year ago in Real Estate

Washington HB2791 Section 1 part (5) "distressed home conveyance": A "distressed home conveyance" has three parts to it. (a) (b) and (c). My question is this: Is a "distressed home conveyance" a combination of all three parts of the code, or is it ANY of the three parts of the code. Meaning that (a) any transfer of interest to a distressed home purchaser constitutes a "distressed home conveyance", or does there need to also be one of the other (b) or (c) parts included to constitute a "distressed home conveyance"

Answers (1)

John Donald Sullivan

This attorney is licensed in Washington. Posted about 1 year ago.

As this provision is written, ALL THREE criteria must be met for a conveyance to be considered a "distressed home conveyance." The distressed homeowner must transfer an interest in the distressed property to a distressed home purchaser, AND the distressed home purchaser must allow the seller to occupy the distressed home, AND there must be a conveyce of the distressed home back to the original seller as described in clause (c).