Recent News

Real estate investors regularly purchase investment property in their name and transfer the property to a wholly owned LLC after closing the purchase. In this case, on purchase, the “insured” is a person for title insurance. What happens to title insurance once the investor transfers the property to their LLC? This question was addressed in… Read More

Inevitably, every business will end. Successful businesses plan for the end, and, as a result, maximize the value of their efforts. A proper advance plan can help maximize value when the time comes. Just as every business is different, a plan for succession varies for every business. There are a few fundamentals for an ‘advance… Read More

Real estate investors frequently come to me seeking advice regarding placing their investments into business entities for asset protection and other business reasons.  Almost always, the LLC is the entity of choice for real estate investments. The reasons behind this simplistic answer, however, are far more complex. Realization Events Under the Section 1001 of Tax… Read More

Most people with some experience in real estate transactions are aware of a seller’s duties generally to disclose to the buyer adverse material facts about the property being sold.  But what duties do brokers have in this regard?  Washington law imposes on brokers certain non-waivable duties owed “to all parties to whom the broker renders… Read More

When buying or selling residential or commercial real estate, the transaction can be mercifully simple- you work with your agent to sign the Purchase and Sale Agreement, work through lending and escrow, and sign a pile of paper to close. But it isn’t always simple: Is my fence on my neighbor’s lot? Do my neighbor’s… Read More

Individuals regularly hold their real estate in LLCs for many reasons, including asset protection, because an LLC is a “separate legal entity” RCW 25.15.071 (3) and members are not liable for debts of the LLC RCW 25.15.126 (1).  The distinction between an individual member and an LLC was front and center in a recent Washington… Read More

In almost all instances, the sale of real property occurs pursuant to some written contract, typically a purchase and sale agreement.  The sale generally becomes complete when title to the property transfers to the buyer via a deed.  But what happens if, after consummation of the sale, one of the parties claims the contract was… Read More

On November 15, 2020, Washington Governor Jay Inslee held a press conference to announce a roll-back of the state’s County-By-County phased reopening plan in response to what he described as a third wave of COVID-19 in Washington state.  This marks the eighth time Governor Inslee has amended his original March 23, 2020 “Stay Home-Stay Healthy”… Read More

In keeping with last week’s theme, this post discusses reverse veil piercing. Reverse veil piercing is the process by which an entity’s assets may be used to satisfy a judgment against a member/shareholder/partner in their individual capacity. Reverse veil piercing is the opposite of corporate veil piercing, where the assets of the member/shareholder/partner may be… Read More