Wash. Rev. Code § 64.34.430

Current through Chapter 376 of the 2024 Regular Session

Section 64.34.430 - [Repealed Effective 1/1/2028] Escrow of deposits

Any deposit made in connection with the purchase or reservation of a unit from a person required to deliver a public offering statement pursuant to RCW 64.34.405(3) shall be placed in escrow and held in this state in an escrow or trust account designated solely for that purpose by a licensed title insurance company, an attorney, a real estate broker, an independent bonded escrow company, or an institution whose accounts are insured by a governmental agency or instrumentality until:

(1) Delivered to the declarant at closing;

(2) delivered to the declarant because of purchaser's default under a contract to purchase the unit;

(3) refunded to the purchaser; or

(4) delivered to a court in connection with the filing of an interpleader action.

RCW 64.34.430

Repealed by 2024 c 321,§ 502, eff. 1/1/2028.

1992 c 220 § 24; 1989 c 43 § 4-108.