Archive For: Business & Real Estate Law

Snohomish County Real Estate Development Strong In 2015

By: Washington State Business and Real Estate Lawyer David Tingstad

Snohomish County Washington, located north of Seattle and south of Skagit county, features more than 2,000 square miles of dense forest, mountain wilderness, bountiful farmland, beautiful beaches and, of course, impressive urban development. In the last few years, the abundance of Snohomish County real estate growth has filled a variety of areas in the county with the hope for a stable and prosperous future. The revival of numerous long-dormant Snohomish County real estate development projects and the introduction of a wide variety of new developments is a win-win situation for everyone involved. With robust business growth and innovation, Snohomish County real...Read More

Short Sales, Foreclosures, Deeds In Lieu And Modifications In Washington State

By: Washington State Business and Real Estate Lawyer William O. Kessler

Even in today’s hot real estate market, many people are still in limbo with a mortgage in arrears and an upside down house. Coming off the disastrous burst of the housing bubble, many people have not paid their mortgages in many months or even several years. They all have one question: What do I do with my mortgage? There are essentially four viable options outside of repaying everything owing under the loan: 1. Short Sale: This involves selling your house and offering to pay the bank less than you owe, in exchange for the bank’s promise not to sue you...Read More

Claims Against Your LLC in Washington State Can Last Forever, … Unless You …

By: Washington State Business and Real Estate Lawyer David Tingstad

There is a great deal of confusion about dissolution of a limited liability company. Many people mistakenly believe that dissolution of an LLC terminates the company and any liability arising out of it. In Washington, this is simply not the case. Washington law provides that dissolution of an LLC does not impair any remedy against it,  UNLESS the LLC files a certificate of dissolution, RCW 25.15.303.  Filing of a certificate of dissolution commences a three-year statute of limitation for any claim against the LLC, and can be useful to cut off claims against a dissolved LLC. If you have failed...Read More

Washington State Condo Leasing Restrictions

By: BeresfordBooth

By Washington State Real Estate Lawyer Per E Oscarsson Condominiums created in the state of Washington after July 1, 1990 are governed by the Washington Condominium Act, RCW Chapter 64.34 (the “Act”). One requirement for the creation of a condominium is the recording of a declaration in the county in which the condominium will be located. Among the many things required to be included in the declaration are any restrictions on the use of the condominium. Unfortunately, the term “use” is not defined in the Act. The issue is important because the Act requires the approval of owners of condominium...Read More

Damages In A Non-Judicial Foreclosure Of A Deed Of Trust In Washington State

By: BeresfordBooth

By Washington State  Real Estate Lawyer Per E. Oscarsson In August 2013, Division One of the Washington Court of Appeals held that a borrower whose loan was secured by a deed of trust on owner-occupied residential real property could, depending upon specific facts of the case, recover monetary damages against a trustee who, by acting without lawful authority or in material violation of the Deed of Trust Act, RCW Chapter 61.24, injured the borrower, even if the trustee’s sale did not occur. Walker v. Quality Loan Service Corp. of Washington, et al., 176 Wn.App. 294 (2013). The court noted that...Read More

Tips For Signing Contracts For A Business Entity In Washington State

By: BeresfordBooth

By Washington State Business and Real Estate Lawyer William O. Kessler If you own a company such as a corporation or LLC, or even if you are just an employee of a company, you may sign contracts for the company regularly. Some are large and complex contracts, but many can appear to be simple contracts (such as Purchase Orders, Subcontractor Agreements or Change Orders). Regardless of the size of the contract, if you are signing for a business such as a corporation or a LLC, it is important the contract contain simple but specific language making it clear you are signing...Read More

New Ordinance Impacts Seattle Residential Rental Property Owners

By: BeresfordBooth

By Washington State Business and Real Estate Lawyer David Tingstad While you probably know about the “just cause” eviction restrictions in Seattle, you may not know about a new Seattle Ordinance pertaining to rental property. If you own a residential rental property in Seattle, then you’ll want to pay attention to the new Rental Registration and Inspection Ordinance (“RRIO”) . RRIO requires landlords to register all rental housing units located in Seattle with the City of Seattle. The purpose of RRIO is to help ensure that all rental housing in Seattle is safe and meets basic housing maintenance requirements. Owners must...Read More

David Tingstad To Present Unwinding the Myth of the Limited Liability Company Capital Account On August 28, 2014

By: BeresfordBooth

On August 28th, 2014, Beresford Booth PLLC Business Attorney David Tingstad along with Cristin Keane of Carlton Fields and Thomas Rutledge of Stoll Keenon Ogden will discuss capital accounts, a fundamental part of limited liability corporations. Learn the importance of capital accounts, the fundamentals associated with the maintenance of the account, and how the account impacts management.   Learn how capital accounts change and how the changes reflect the economics of the company.  Compare and contrast capital accounts with basis.  Improve your depth of knowledge of LLCs. For more information about this CLE seminar, please go to http://shop.americanbar.org/eBus/Default.aspx?TabID=1444&productId=131642673  

Conversions of LLCs, Corporations and Limited Partnerships Are Now Easier In Washington State

By: BeresfordBooth

By Washington State Business and Real Estate Lawyer David Tingstad As of June 12, 2014, Washington State joined 28 other states and adopted provisions to simplify the process of conversions of LLCs, corporations and limited partnerships. The amendments to RCW 25.15.085 and 23B.13.020; and new sections to chapter 25.15 and 25B.09 allow for a one-step conversion process for corporations and LLCs to convert into another entity type and/or change the entity’s state of incorporation/formation. Businesses have an opportunity to select the state of their organization. All 50 states have their own corporate acts and limited liability company acts that give businesses...Read More

“Can I Lien This Project?” Contractor Liens And Pre-Claim Lien Notices In Washington State

By: Washington State Litigation, Business and Real Estate Lawyer William O. Kessler

Your crew has done construction or remodel work at a property, but you are not being paid. You want to file a lien against the real estate, but you are not sure you can legally. You are not even sure exactly how a lien might benefit you. Overview of Liens A “mechanic's lien” is the most common form of contractor’s lien in Washington. It sounds like something a car mechanic would utilize, but it actually applies to work performed on real estate. The lien is authorized by RCW 60.04. If you are within 90 days from the last date you...Read More