Legislature Moves to Protect Debtors from Foreclosure
A new bill seeks to allow judgment debtors to retain possession and profits of their property during the legal redemption period.
Senator Dorr's bill, relating to sales under execution, was discussed at length before the legislature. It provides that in all cases where real or other property is sold under execution, foreclosure, or other judicial proceedings, which at the time of such sale is subject to redemption, the judgment debtor shall be entitled to the possession, and to the rents, issues, and profits of such property during the full period provided by law for redemption. The bill passed the Senate by a vote of 22 to 5, though it initially lacked the necessary majority for an emergency clause. Opponents argued that while the present statute protects the creditor to the detriment of the debtor, this bill simply reverses the situation. Supporters, including practicing attorneys, stated they favored legislation that would protect both classes equally.
“The opponents of the bill contended that while the present statute protects the creditor to the detriment of the debtor, this bill simply reverses the situation.”
This 1895 debate over the balance of power between creditors and debtors during foreclosure proceedings mirrors the ongoing tension in modern housing policy. As Seattle continues to grapple with displacement and the rights of tenants and homeowners, the struggle to define 'fair' foreclosure laws remains a central civic argument.
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