Summary

• Jurisdiction: Washington

Chapter Details

Summary

§20.1	Introduction
§20.2	Development as a Lien Theory State
§20.3	Framework for Analysis
§20.4	Requisites of a Mortgage
(1) Interests in Property (a) Vendee's Interest in Conditional Real Estate Sales contract (b) Vendor's Interest in Real Estate Sales Contract (2) Necessity and Nature of Obligation Secured (3) Consideration (4) Form and Contents of the Instrument (a) Statutory Requirements (b) Description of the Property (c) Execution and Delivery (5) Validity (6) Terms, Covenants, and Conditions in a Mortgage (a) Unlawful Return on Funds-Usury (b) Purported Waiver of a Statutory or Equitable Right (c) Acceleration and Restraint on Alienation
§20.5	Mortgages, Alternative Types, Variations, and Modifications
(1) Equitable Mortgage (a) Intent Requirement (b) Deed as Equitable Mortgage (c) Sale With Contract or Option to Repurchase and/or Sale-Leaseback With Option to Repurchase (2) Character of Instrument Determined at Inception (3) Effect of Recording Statute and Protected Class
§20.6	Rights and Duties Before Foreclosure
(1) Trees, Crops, Emblements, and Injury to the Property (2) Rents (3) Mortgagee in Possession
§20.7	Rules of Construction
(1) Parties and Debt (2) Property (3) Situs of the Mortgage
§20.8	Recording and Registration
(1) Recording (2) Conveyance Instruments and Transfers Affected by the Statute (3) Protected Parties (4) Irregular Recordings
§20.9	Priorities
(1) Between the Parties (2) Mechanics' and Materialmen's Liens (3) Leases (4) Taxes and Other Statutory Liens (5) Equitable subrogation

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