Washington Enacts Uniform Power of Attorney Act and Amends Foreclosures Deeds of Trust Statute
Washington has enacted a Uniform Power of Attorney statute that takes effect on January 1, 2017. Additionally, Washington has amended its Foreclosure Deeds of Trusts legislation which is effective on July 1, 2015.
Uniform Power of Attorney
Washington’s power of attorney statute applies to all powers of attorney except a power joined with an interest in the subject matter of the power, a proxy for voting or management rights related to an entity, a power for a governmental purpose, health care decisions and the nomination of a guardian for a minor child.
The agent’s power terminates upon the principal’s incapacity, unless the document contains words similar to the following: “this power of attorney shall not be affected by disability of the principal,” or “this power of attorney shall become effective upon the disability of the principal.” The principal can choose to make the power of attorney contingent upon the occurrence of a particular event.
In order for the power of attorney to be effective, it must be signed and dated by the principal and acknowledged or attested to. The statute specifies who may witness the signature and what qualifies as a signature.
The agent retains their powers until the power of attorney terminates. Some of the circumstances in which this may occur are the death of the principal, revocation of the power or death of the agent.
Note, the statute contains a template that may be used to draft a power of attorney.
Foreclosure Deeds of Trust
The amendment to Washington’s Foreclosure Deeds of Trust legislation requires every beneficiary who has had a notice of trustee’s sale recorded on their behalf to report the number of notices of trustee’s sale recorded for each residential property during the previous quarter, remit the amount required by statute, and report and update beneficiary contact information. These steps must be taken on a quarterly basis.
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