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A TALE OF TWO EASEMENTS: WHY A SURVEY CAN BE A BUYER’S BEST FRIEND IF AN EASEMENT IS INVOLVED

Two recent court cases illuminate the role of a survey in dealing with property that is benefited by or burdened with, an easement.  In the first case, a Mercer Island lot enjoyed an easement for utilities, vehicular access and parking over a portion of a neighboring lot.  Over time the owner of the burdened lot …

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SEATTLE’S JUST CAUSE EVICTION ORDINANCE: A FORCE TO BE RECKONED WITH BY LANDLORDS

If you are a long term hold investor who owns rental property in the City of Seattle, you may come into situations that are affected by Seattle’s Just Cause Eviction Ordinance. Two recent court cases discuss this law and this month’s column will consider the Supreme Court’s decision. Next month I will cover the Court …

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STALE PROMISSORY NOTES: SOMETIMES THEY CAN PRODUCE A WINDFALL FOR THE ALERT INVESTOR

We all are aware of the turmoil in the financial industry through which our country has lived over the past eight or so years. Banks and other lenders have gone out of business, been taken over by other entities and vast numbers of loan documents have been shifted around. In addition borrowers have experienced great …

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Deficiency Judgments

DEFICIENCY JUDGMENTS AND COMMERCIAL LOAN GUARANTEES: AN AREA OF RISK FOR REAL ESTATE INVESTORS By Doug Owens People sometimes ask me about the extent of the protection a limited liability company gives to the investor against claims that seek money from the investor’s other assets. I always answer that “it depends.” One of the things …

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IS DAMAGE HISTORY COMPENSABLE UNDER YOUR AUTO INSURANCE POLICY?

A recent Supreme Court decision has taken up the question whether in addition to replacing damaged parts on a car after an accident, an insurance company has the obligation to pay for the loss in the car’s value simply from having been damaged in an accident. This case, a class action involving State Farm, involves …

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HOA LIEN FORECLOSURES: A POSSIBLE OPPORTUNITY FOR INVESTORS WHEN BANKS SLEEP ON THEIR RIGHTS

I previously wrote about a case involving a bank which had lent on a condominium as collateral, and an investor who purchased the condo in a judicial foreclosure sale of the lien for the owner’s unpaid homeowner’s association dues assessments. In that case the bank, which had been notified of the foreclosure sale, inexplicably failed …

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SEATTLE RENTAL HOUSING INSPECTION ORDINANCE WILL CHANGE LIFE FOR LANDLORDS

At a recent investor meeting I was asked about the recent Seattle rental housing inspection ordinance. This was a good question because for Seattle landlords of all types, life will not be the same after the ordinance takes full effect. The ordinance which was adopted October 9, 2012 replaces the existing Seattle business license requirement …

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