Condo Owner? Oops

Posted June 8th, 2008 by Joe Kaiser

. . . because of yet another oversight by the creators of our new foreclosure laws, they completely forgot about you.

Dear Rob,

Anyone from the HB 2791 brain trust ever hear of a condo?

Apparently not.

Your new foreclosure rescue scam law, from what we can tell, forgot to include condos when defining the type of properties covered by the new law.


Dwelling defined

Here’s the language . . .

(8) “Dwelling” means a single, duplex, triplex, or four-unit family residential building. — HB 2791, The Washington State
Distressed Property Conveyance Act

According to the new law, these are the only types of structures that merit “protection.”

Uh, you left out five-unit or bigger condo complexes, Rob.

I know my parents live in one, as do my wife’s parents, a couple of my aunts, and thousands of other Washington residents, all of whom the drafters of HB 2791 apparently failed to notice.


No worries

Condo owner in a five-unit (or bigger) building?

Lucky you . . . because of yet another oversight by the creators of our new foreclosure laws, they completely forgot about you.

Not to worry (it’s a good thing).

Unlike owners of single family homes, if the owner of a condo in a five-unit or bigger complex finds himself in foreclosure, he doesn’t have to worry about our ridiculous new foreclosure laws stripping him of his rights to freely contract.

And that means he’ll have at least some chance of getting himself squared away.

But owners of condos in four-unit or less buildings?

They’re covered . . . and pretty much screwed.

In the arena,

Joe Kaiser


2 Responses to: “Condo Owner? Oops”

  1. anemonehead responds:
    Posted: June 9th, 2008 at 10:16 am

    Now we’re back to that, “someone with half a brain”, thing!

  2. GJK responds:
    Posted: June 11th, 2008 at 9:49 am

    We’re soooo relieved!!
    Mom & Dad


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