Washington Code 73.36.150 – Purchase of real estate — Procedure
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(1) The court may authorize the purchase of the entire fee simple title to real estate in this state in which the guardian has no interest, but only as a home for the ward, or to protect his or her interest, or (if he or she is not a minor) as a home for his or her dependent family. Such purchase of real estate shall not be made except upon the entry of an order of the court after hearing upon verified petition. A copy of the petition shall be furnished the proper office of the veterans administration and notice of hearing thereon shall be given said office as provided in the case of hearing on a guardian‘s account.
Terms Used In Washington Code 73.36.150
- Dependent: A person dependent for support upon another.
- Estate: means income on hand and assets acquired partially or wholly with "income. See Washington Code 73.36.010
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: means any fiduciary for the person or estate of a ward. See Washington Code 73.36.010
- Lien: A claim against real or personal property in satisfaction of a debt.
- Trustee: A person or institution holding and administering property in trust.
- Veterans administration: means the veterans administration, its predecessors or successors. See Washington Code 73.36.010
- Ward: means a beneficiary of the veterans administration. See Washington Code 73.36.010
(2) Before authorizing such investment the court shall require written evidence of value and of title and of the advisability of acquiring such real estate. Title shall be taken in the ward’s name. This section does not limit the right of the guardian on behalf of his or her ward to bid and to become the purchaser of real estate at a sale thereof pursuant to decree of foreclosure of lien held by or for the ward, or at a trustee‘s sale, to protect the ward’s right in the property so foreclosed or sold; nor does it limit the right of the guardian, if such be necessary to protect the ward’s interest and upon prior order of the court in which the guardianship is pending, to agree with cotenants of the ward for a partition in kind, or to purchase from cotenants the entire undivided interests held by them, or to bid and purchase the same at a sale under a partition decree, or to compromise adverse claims of title to the ward’s realty.