Washington Code 60.11.090 – Rights and interest of purchaser for value
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When a lien is foreclosed in accordance with RCW 60.11.060, the disposition transfers to a purchaser for value all of the lien debtor‘s right therein and discharges the lien under which it is made and any security interest or lien subordinate thereto. The purchaser takes free of all such rights and interest even though the lienholder fails to comply with the requirements of this chapter or of any judicial proceedings under RCW 60.11.070:
Terms Used In Washington Code 60.11.090
- Lien: A claim against real or personal property in satisfaction of a debt.
- Lien debtor: means the person who is obligated or owes payment or other performance. See Washington Code 60.11.010
- Lienholder: means a person who, by statute, has acquired a lien on the property of the lien debtor, or such person's successor in interest. See Washington Code 60.11.010
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
(1) In the case of a public sale, if the purchaser has no knowledge of any defects in the sale and if he or she does not buy in collusion with the lienholder, other bidders, or the person conducting the sale; or
(2) In any other case, if the purchaser acts in good faith.
[ 1986 c 242 § 9.]