Wash. Admin. Code § 458-18-040 - Deferral of special assessments and/or property taxes - Lien of state - Mortgage - Purchase contract - Deed of trust
(1) Whenever any special assessments and/or
real property taxes are deferred under the provisions of this chapter, the
amount deferred, including interest, shall become a lien in favor of the state
upon this property and shall have priority as provided in chapters 35.50 and
84.60 RCW except as provided in subsection (3) herein.
(2) If any residence is under mortgage, deed
of trust or purchase contract whereby the explicit wording or terms of the
mortgage, deed of trust or purchase contract requires the accumulation of
reserves out of which the holder of the mortgage, deed of trust, or purchase
contract is required to pay real property taxes , said holder or his authorized
agent shall cosign the declaration to defer either before a notary public or
the county assessor or his deputy in the county in which the real property is
located.
(3) The interest of any
party required to cosign a declaration to defer under subsection (2) of this
section shall have priority to the lien established in subsection (1) of this
section.
Notes
Order PT 76-1, § 458-18-040, filed 4/7/76.
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