Realtors who though understanding the mechanics of the Form 17 may not fully understand its rationale. This post seeks to do this and advise how Realtors can best help their listing clients to use this as a tool to strike the proper value between increasing value and reducing risk. [1]
First, we need to step
Roy v. Cunningham, 46.Wn.App.409, 731 P.2d 526 (1986.12.30) – [Cause No: 7208-8-III] – upholds the Yakima County Superior Court – [Case No: 83 2-01530-7] liability trial decision of Judge Jo Anne Alumbagh in favor of adverse possessors, Plaintiffs Roy, et al, yet remanded for redetermination damages for which title holder, Defendants Cunningham, et al
The Statutory Warranty Deed and the Form 17 together allow residential real property sellers to increase the value of the transaction by preventing an assymetry of information from otherwise reducing the value of a property, increasing the time involved in conducting a transaction, or both.
Assymetry of information – what is that?
Assymetry of information occurs when one
The scenario is this. You and your neighbor have purchased properties. Neither you nor your neighbor had a survey prior to purchase. So, the result is when either of you later do have a survey, it is discovered that there are in fact some [potential] encroachments.
However when you purchased your home, you found out – verbally of course –
Bad neighbor relations do not start when someone conducts a survey and identifies “potential encroachments”. See my post “Encroachments are not identified by Surveys – …” and the comments which follow. Instead, that is just the yield from past actions … or more likely ommissions.
Due largely to ignorance of the law of real property
A Lis Pendens is the filing of notice that a lawsuit has been commenced against a real property owner. This is a recorded document that is filed against the property, not at court, along with all the other documents such as deeds, boundary line adjustments, easement, covenants … at the county auditor or recorder’s office which normally receives
Governor Gregoire announced her proposed plan for balancing the biennium budget today. The Seattle Times’ Andrew Garber reports this story in full here. Yet, the story is perhaps best captured by the following quote contained within it:
Overall, the proposed budget closes a projected $4.6 billion shortfall in the next two-year budget — which runs through June
