News Category: Real Estate
Navigating Technical Terminology in Residential Construction Contracts
Residential construction contracts will often contain technical terms or jargon that leave many homeowners with uncertainty. Homeowners should be cautious of implicitly agreeing to language they do not understand when entering a construction contract. As a primer, the following are some words commonly found in residential construction agreements that homeowners should understand before entering into
Commercial Real Estate Disclosures in Washington: What Sellers Need to Know
In Washington, sellers of commercial property are required to complete and timely provide a buyer with a seller disclosure statement (commonly known as the Form 17 Comm) containing specific information about the property pursuant to RCW 64.06.013. The seller disclosure statement is required for all transactions with a few exceptions which include, without limitation, foreclosures,
Regaining Possession of Real Property – Unlawful Detainer or Ejectment?
One of the greatest hurdles faced by landlords and property owners is regaining possession of real property in a timely manner. Unlawful Detainer (also referred to as an eviction) and Ejectment are actions are used by landlords and property owners to recover the possession of real property. Choosing the type of action depends on the
Real Estate Conveyances: Which Deed is Right for Me?
When considering whether to enter into a contract to buy or sell property, you may come across various types of deeds by which title may be transferred. In Washington State, there are three common types of deeds that may be used: a statutory warranty deed, a bargain and sale deed, and a quit claim deed.
Changes to Commercial Guarantees in Seattle
Landlords that lease commercial property in Seattle need to be aware of major changes to the Municipal Code. Seattle recently enacted Ordinance 126982, which introduces significant regulations for commercial property lessors within the City. Here’s what you need to know: The ordinance went into effect on January 29, 2024, and has been codified into Seattle
Interested in an Accessory Dwelling Unit in Washington State? Be Sure to Research the Regulations for Compliance
In recent years, the interest in Accessory Dwelling Units (ADUs) has grown exponentially in response to housing shortages and affordability issues. The regulatory landscape for ADUs is dynamic and can be affected by changes at local, state, and/or federal levels. It is crucial for property owners and builders to be informed about the latest requirements
The New Exception to Washington Landlord-Tenant Relationships and Leaseback Agreements
A Leaseback Agreement or a “rentback agreement” is an agreement between a buyer and seller of a property that permits the seller to continue living in the property for a period while paying rent to the buyer. Leaseback agreements are usually short-term arrangements that provide sellers with additional time to move out of the property
Legal Concerns of Real Estate in the Metaverse: Navigating the Virtual Frontier
The concept of the metaverse, a virtual world where users interact with digital environments and each other in immersive ways, has gained significant attention in recent years. With advancements in virtual reality (VR) and augmented reality (AR) technologies, the metaverse is becoming more accessible and has the potential to revolutionize various industries, including real estate.
Remember the Remainderman: Rights and Responsibilities of a “Life Tenant” in Washington State
In the State of Washington, a life estate is a legal arrangement where a person, known as the “life tenant,” has the right to use and occupy a property for the duration of his or her life. The life tenant has all the same rights and responsibilities as a regular owner, but only for the
Residential Sellers and Purchasers Beware: One Year Limitation to File Suit Under a Residential Construction Contract Held Unenforceable
This past fall, in a split 5-4 decision, the Washington Supreme Court ruled that a one-year limit to file suit under a residential construction contract was unconscionable and, as a result, void and unenforceable. Tadych v. Noble Ridge Construction, 519 P.3d 199 (2022). The Court articulated that a one-year limitation period “unduly benefits the contractor