Cascade Security Bank v. Butler

(concurring in part, dissenting in part) — I concur in the overruling of Ashford v. Reese, 132 Wash. 639, 233 P. 29 (1925). I dissent, however, from the majority's rejection of the doctrine of equitable conversion.

The great majority of jurisdictions in this country recognize and follow the doctrine of equitable conversion in land sale contracts.1 Panushka v. Panushka, 221 Ore. 145, 149-50, 349 P.2d 450 (1960), describes the operation of this equitable doctrine.

*787An equitable conversion, therefore, takes place when a contract for the sale of real property becomes binding upon the parties.…