As interest swirls around the divorce of Bill and Melinda Gates, attention quickly turned to a King County deed listing Melinda Gates’ name for a $1.2 million home in Portage Bay that was sold last month.
Business Insider reported that Melinda Gates bought the house, and the Seattle Times initially reported the same. But it appears Gates more likely helped another buyer secure the house.
A warranty deed filed in early April shows another couple bought the home. A deed of trust filed soon after lists Melinda Gates, possibly indicating she helped with financing for the purchase.
The warranty deed naming the other couple indicates they are likely the buyers of the home while Gates provided a loan to help them cover the cost, said Robert Pentimonti, a Tacoma-based real estate attorney. (Pentimonti was not involved in the sale.)
Typically, a warranty deed transfers ownership of a property while the person listed as the grantee/beneficiary on a deed of trust, as Gates was, is usually the person loaning money to the buyer, according to Jon Scherer, manager of recording at the King County Recorder’s Office
Bill and Melinda Gates announced this week they plan to divorce, setting off questions about how they will split their estimated $146 billion and what will happen to their $131 million complex in Medina known as Xanadu 2.0. The couple also owns three homes in California, a horse farm of more than 200,000 acres and other properties.
This story has been corrected to reflect that Melinda Gates did not buy the home herself.