Washington Code 48.10.055 – Real property — Attorney’s duty
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A reciprocal insurer may purchase, sell, mortgage, encumber, lease, or otherwise affect the title to real property for the purposes and objects of the reciprocal insurer. All deeds, notes, mortgages, or other documents relating to the real property may be executed in the name of the reciprocal insurer by its attorney.
[ 1991 c 266 § 1.]
Terms Used In Washington Code 48.10.055
- Attorney: as used in this chapter refers to the attorney-in-fact of a reciprocal insurer. See Washington Code 48.10.080
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.