Find Laws Find Lawyers Free Legal Forms USA State Laws

WASHINGTON STATUTES AND CODES

62A.9A-626 - Action in which deficiency or surplus is in issue.

Action in which deficiency or surplus is in issue.

(a) Applicable rules if amount of deficiency or surplus in issue. In an action arising from a transaction in which the amount of a deficiency or surplus is in issue, the following rules apply:

     (1) A secured party need not prove compliance with the provisions of this part relating to collection, enforcement, disposition, or acceptance unless the debtor or a secondary obligor places the secured party's compliance in issue.

     (2) If the secured party's compliance is placed in issue, the secured party has the burden of establishing that the collection, enforcement, disposition, or acceptance was conducted in accordance with this part.

     (3) Except as otherwise provided in RCW 62A.9A-628, if a secured party fails to prove that the collection, enforcement, disposition, or acceptance was conducted in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance, the liability of a debtor or a secondary obligor for a deficiency is limited to an amount by which the sum of the secured obligation, expenses, and attorneys' fees exceeds the greater of:

     (A) The proceeds of the collection, enforcement, disposition, or acceptance; or

     (B) The amount of proceeds that would have been realized had the noncomplying secured party proceeded in accordance with the provisions of this part relating to collection, enforcement, disposition, or acceptance.

     (4) For purposes of (3)(B) of this subsection, the amount of proceeds that would have been realized is equal to the sum of the secured obligation, expenses, and attorneys' fees unless the secured party proves that the amount is less than that sum.

     (b) [Reserved]

[2000 c 250 § 9A-626.]

Washington Forms by Issue

Washington Court Forms
> Probate
Washington Tax Forms

Washington Law

Washington State Laws
    > Washington Child Support
    > Washington Gun Laws
    > Washington Statute
Washington Court
    > Washington Courts
    > Washington State Court Records
    > Washington State Courts
Washington Labor Laws
    > Washington State Jobs
    > Washington State Unemployment
Washington State
    > Washington County Jail
    > Washington State Parks
Washington Tax
    > Washington State Tax
Washington Agencies
    > Washington DMV
    > Washington Secretary of State
    > Washington State Department of Health
    > Washington State Department of Licensing
    > Washington State Department of Revenue
    > Washington State Department of Transportation
    > Washington State Patrol

Washington Court Map

Tips