This client contacted us after having bought real property with a co-borrower. The co-borrower was intended to be used as “co-purchaser”. Meaning that while they helped the borrower have enough credit to purchase the property, they themselves were not classified as an owner of the real estate, but only as a co-signor.
Under WAC Exemption 458-61A-215, this co-signer can be removed from title and the title recorded in the name or names of the legal owners. We prepared a Quit Claim Deed for this client to remove his father-in-law from title. We then had the signed deed recorded with the county, to provide our clients with clear title.
____________________________________________________________________
Need estate planning help but not sure where to start? Click the link to check out this free presentation I put together that will answer all your questions (it’s basically the talk I give at potential client strategy sessions):
https://cmslawfirm.com/foundation
And, if you know you just want to talk, click the link below to schedule a free strategy session with us:
