Archive For: Business & Real Estate Law

David Tingstad Presents New LLC Regulations At 2016 Senior Lawyers Section Conference CLE

By: BeresfordBooth

Beresford Booth partner David Tingstad presented "LLC Updates -- New LLC Regulations that took effect January 2016" at Washington State Bar Assocation's Senior Lawyers Section Conference CLE Event titled "The Changing Landscape 2016." The event took place on May 6th 2016 and featured speakers on: Bias in the justice system Title IX and Sex Discrimination Technology and office management Ethics of social media Updates from the WA Supreme Court Ethics Rules as applied to estate planning, probate and guardianship Communicating between generations LLC Updates -- New LLC regulations that took effect January, 2016 The role of trial lawyers in the...Read More

David Tingstad To Present At The New Washington LLC Act CLE Event

By: BeresfordBooth

The New Washington LLC Act is presented in partnership with the WSBA Business Law Section on Tuesday, January 26, 2016, at The WSBA Conference Center in Seattle, WA. Are you up to speed on the significant changes to the law governing Washington LLCs under the new LLC Act, effective January 1, 2016? Did you know, for example, that LLC member or operating agreements are no longer required to be in writing? To understand all the changes and their implications for current and future managers and members of Washington LLCs — as well as for anyone doing business with a Washington...Read More

Should I Buy A House With My Friend In Washington State?

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

Real estate prices are continuing to climb in Seattle and many other parts of Washington. As a result, we are seeing buyers increasingly partner with friends and extended family to buy property together. Some are buying investment property, and some are even sharing a residence with their friends / co-buyers. Such arrangements can be very beneficial for all parties, both financially and from a personal-relationship standpoint. But unless the friends go into the purchase with a clear written agreement, co-ownership often causes strained or broken relationships, and even litigation. Therefore, it is absolutely critical for these buyers to address certain...Read More

David Tingstad’s Article On WA State’s New LLC Act Published In ABA Reporter

By: BeresfordBooth

Beresford Booth managing partner David Tingstad recently had his article on Washington State's new LLC Act published in the American Bar Association's (ABA's) LLC & Partnership Reporter November 2015 edition.  Here is the full text of David's article: After initially considering the Uniform Law Commission’s Revised Uniform Limited Liability Company Act (“RULLCA”), Washington's Partnership and LLC Act Committee decided against adoption of RULLCA. The result is a complete replacement of Washington's LLC Act (the “New Act”). The current version of the LLC Act was initially passed in 1994. Washington's Senate and House passed the New Act by unanimous votes. The New...Read More

David Tingstad To Present On LLC Formation As Part Of ABA Panel

By: BeresfordBooth

Beresford Booth managing partner David Tingstad will contribute to a webinar panel organized by the American Bar Association on Thursday, June 25, 2015. The panel will be a 90-minute course detailing the “World’s Best LLC Checklist,” originally written by several of the panelists to ensure that LLCs fit the parties’ needs and legal requirements. David’s experience with the intricacies of forming an LLC in Washington State will play a key role in this discussion of how practitioners can draft comprehensive legal agreements. He is joined on the panel by professors and practicing attorneys from across the country: Christina Houston (Moderator),...Read More

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 Law 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: 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 units to which 90% of the votes in the...Read More

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

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 nothing in the amendment that added section 61.24.127 to...Read More