Fidelity Mutual Savings Bank v. Mark
In Fidelity Mutual Savings Bank v. Mark, 112 Wn.2d 47, 767 P.2d 1382 (Wash. 1989), Albert and Mae Mark's property was sold at a foreclosure sale and thereafter, they executed a document titled "Assignment of Interest" which purported to convey all their interest in the property to the family business, Marks' Westside. Id. at 1383.
Mark's Westside then attempted to redeem the property pursuant to the state's redemption statutes. The court found that because the Assignment of Interest was not properly recorded as required by Washington's real property transfer statute, title was not properly conveyed.
Marks' Westside conceded that title had not been properly conveyed but argued that the right to redeem is property that could be assigned without the underlying interests in the property.
The court disagreed and held that "the right of redemption is not an interest in land, but a mere personal privilege given by statute to the mortgagor" that can only be assigned along with the underlying interest in the property. Id. at 1384-85.