Legal Question in Real Estate Law in Washington

Re: Losing our Investment Home

My title to this answer could be "No Good Deed Goes Unpunished".

No doubt you have heard the phrase predatory lending going around lately; conversely, there is also an issue of predatory borrowing, and it sounds as though you may have fallen into this trap.

Now that you own the property, she sees you as the bad guy because you expect to get paid.

I hope somebody has explained that verbal agreements regarding real property (the part where she promised to buy it back) are practically unenforceable. The Statute of Frauds won't support verbal agreements re property.

On the other hand, you cannot use the Statute to perpetuate a fraud, either.

Of course there is hope. Especially if the other side has an attorney, you are in dire circumstances unless and until you lawyer up, though.

ANY real property in Western Washington has seen its value increase dramatically in the last two years, and I'm sure yours is no exception.

You need to call the bankruptcy question and decide one way or the other, because it will matter to any attorney that you hire.

The issue is that you want out, and she wants to stay. Has anybody filed a lawsuit yet? Likely it was an unlawful detainer, but it should have been an ejectment action (or quiet title if she filed).

I'd need to know more to give you actual advice; based on what you presented all I can really say is its time to lawyer up.

Hope this helps - even a bit -

Powell