[SPAM] RE: [WSBAPT] TOD Deed

[Michael Atkins]

Huh - Lol


 



-------- Original Message --------
Subject: Re: [WSBAPT] TOD Deed
From: Doug Schafer <schafer at pobox.com>
Date: Thu, May 29, 2014 4:40 pm
To: wsbapt at lists.wsbarppt.com

I notice that Section 25 of the TOD Deed Act (Ch. 58, 2014 Laws of WA)
<http://apps.leg.wa.gov/documents/billdocs/2013-14/Pdf/Bills/Session%20Law
s/House/1117-S.SL.pdf>  amends RCW 82.45.197. That 2008 statute describes
documentation that must be provided "In order to receive an exemption from
the tax [REET] in this chapter on real property transferred as a result of
inheritance under RCW 82.45.010(3)(a)."  The TOD Deed Act appends to that
statute a subsection (7) reading "If the property is being transferred
pursuant to a transfer on death deed, a certified copy of the death
certificate is recorded to perfect title." But providing (to the Dept. of
Revenue??  when??) a copy of a recorded certified death certificate
(though a title insurer may request one) may not even be required, as
explained below.

Section 24 of the bill and the enacted law amends RCW 82.45.010 that
defines "sale" for REET purposes.  The original House Bill 1117
<http://apps.leg.wa.gov/documents/billdocs/2013-14/Pdf/Bills/House%20Bills
/1117.pdf> , at Section 24, amended RCW 82.45.010(3), that lists transfers
that are not a "sale," by amending its paragraph (a) to read "A transfer
by gift, devise, or inheritance or a transfer on death deed."  Thus,
Section 25 of that bill then was consistent in its reference to paragraph
(3)(a) of RCW 82.45.010 as the applicable exemption for a TOD deed.

However, the original bill's Section 24 was revised in Engrossed
Substitute House Bill 1117
<http://apps.leg.wa.gov/documents/billdocs/2013-14/Pdf/Bills/House%20Bills
/1117-S.E.pdf>  and the revision was ultimately adopted and reflected in
the Session Law.  The revision removed the reference to TOD deeds from
paragraph (3)(a) and inserted a reference to TOD deeds as a new paragraph
(3)(b), reading "A transfer by transfer on death deed, to the extent that
it is not in satisfaction of a contractual obligation of the decedent owed
to the recipient of the property."

So since a transfer by TOD deed is not "a transfer as a result of
inheritance under RCW 82.45.010(3)(a)" (it is a transfer under paragraph
(3)(b) of that statute), the language of RCW 82.45.197 by its terms does
not apply. 

Doug Schafer, in Tacoma.


-------- Original Message --------
Subject: RE: [WSBAPT] [SPAM] TOD Deed
From: "Sam Furgason" < <mailto:sam at furgasons.com> sam at furgasons.com>
Date: Thu, May 29, 2014 1:45 pm
To: < <mailto:wsbapt at lists.wsbarppt.com> wsbapt at lists.wsbarppt.com>
SECOND ENGROSSED SUBSTITUTE HOUSE BILL 1117 provides, in pertinent part:
NEW SECTION. Sec. 3. APPLICABILITY. This chapter applies to a transfer on
death deed made before, on, or after the effective date of this section by
a transferor dying on or after the effective date of this section.
To read the entire bill, go to
<http://apps.leg.wa.gov/billinfo/summary.aspx?bill=1117&year=2013>
http://apps.leg.wa.gov/billinfo/summary.aspx?bill=1117&year=2013, or go to
the RCW search page for Bill Information and enter 1117 in the search box.
Your client can make the deed now, but must live until the effective date
for it to work. 
S 


=======================

- To contact the list administrator, send a message to:
webmaster at wsbarppt.com
- To unsubscribe, send a new email addressed to: imail at lists.wsbarppt.com,
with the following in the body of the message: unsubscribe wsbapt - OR -
send a message to webmaster at wsbarppt.com asking that you be removed from
the wsbapt list.
Information provided on this list should not be considered legal advice.
As with all lists - let the reader beware! No warranties or
representations are made as to the accuracy of any information provided.
All opinions and comments in this message represent the views of the
author and do not necessarily have the endorsement of the Washington State
Bar Association nor its officers or agents. 

=======================


- To contact the list administrator, send a message to:
webmaster at wsbarppt.com

- To unsubscribe, send a new email addressed to: imail at lists.wsbarppt.com,
with the following in the body of the message: unsubscribe wsbapt - OR -
send a message to webmaster at wsbarppt.com asking that you be removed from
the wsbapt list.

Information provided on this list should not be considered legal advice.
As with all lists - let the reader beware! No warranties or
representations are made as to the accuracy of any information provided.
All opinions and comments in this message represent the views of the
author and do not necessarily have the endorsement of the Washington State
Bar Association nor its officers or agents. 

-------------- next part --------------
A non-text attachment was scrubbed...
Name: winmail.dat
Type: application/ms-tnef
Size: 69111 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20140529/839293f8/winmail.dat>