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REVOCABLE LIVING TRUST OF STRAND v. WEL-CO GROUP, INC.

No. 21591-1-III.

86 P.3d 818 (2004)

The REVOCABLE LIVING TRUST OF Harold G. STRAND and Margaret M. Strand, Respondents, v. WEL-CO GROUP, INC., a Washington corporation; The Brown Trust, a family trust; and Douglas A. Brown and Diana G. Brown, husband and wife, and the marital community composed thereof, Appellants.

Court of Appeals of Washington, Division 3, Panel Eight.

March 25, 2004.

Attorney(s) appearing for the Case

Charles E. Watts, Attorney at Law, Bellevue, WA, Candy K. Heaverlo, Attorney at Law, Ellensburg, WA, for Appellants.

Duncan C. Wilson, Sampson & Wilson, Inc. PS, Renton, WA, for Respondents.

SWEENEY, J.

This is a dispute over a loan for the purchase of a luxury condominium in Kirkland, Washington. The loan was made to Douglas and Diana Brown by the Strand Trust, a private lender. It was guaranteed by Wel-Co Group, Inc. The central question presented is whether the condominium purchase was for a commercial purpose and therefore exempt from Washington's usury law. The trial court ruled on summary judgment that it was. And the court also ruled that the Strand...

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