Washington § 23B.18.020 - Mortgage foreclosure.

Full text of Washington Revised Code of Washington § 23B.18.020 — Mortgage foreclosure., with citation guidance and answers to common questions.

§ 23B.18.020. Mortgage foreclosure.

Such nonadmitted organizations shall have the right to foreclose such mortgages under the laws of this state or to receive voluntary conveyance in lieu of foreclosure, and in the course of such foreclosure or of such receipt of conveyance in lieu of foreclosure, to acquire the mortgaged property, and to hold and own such property and to dispose thereof. Such nonadmitted organizations however, shall not be allowed to hold, own, and operate said property for a period exceeding five years. In the event said nonadmitted organizations do hold, own, and operate said property for a period in excess of five years, it shall be forthwith required to appoint an agent as required by RCW 23B.15.070 and Article 4 of chapter 23.95 RCW for foreign corporations doing business in this state.
[ 2015 c 176 s 2144; 1989 c 165 s 192.]

Notes

Effective date—Contingent effective date—2015 c 176: See note following RCW 23.95.100.

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Frequently Asked Questions About Washington § 23B.18.020

What does Revised Code of Washington § 23B.18.020 cover?

Section 23B.18.020 ("Mortgage foreclosure.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 23B.18.020?

A common citation format is "Revised Code of Washington § 23B.18.020" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

How does Washington § 23B.18.020 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Washington.