[WSBAPT] Help.

Wed Jul 1 19:28:24 PDT 2015

Doug,

You have to look to the definition of "Sale" and what it does NOT include.  

"The transfer of an interest in real property merely to secure a debt or the
assignment of a security interest, release of a security interest,
satisfaction of a mortgage, or reconveyance under the terms of a mortgage or
deed of trust."  WAC 458-61A-102(17)(d)(iii).

In fact, no Affidavit is even required.  "Affidavit not required. The real
estate excise tax affidavit is not required nor accepted for the following
transactions including, but not limited to. (d) A mortgage or deed of trust,
satisfaction of mortgage, or reconveyance of a deed of trust."  WAC
458-61A-303(3). (Emphasis added.)

Samuel M. Meyler

Attorney at Law 

Mail:  P.O. Box 777 | Redmond, WA 98073-0777

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From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Douglas Bratt
Sent: Wednesday, July 01, 2015 6:57 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Help.

Listmates:

Please help an older practitioner, with a four digit bar number, who really
should not still be slaving away in the office close to 7:00 PM (so sayeth
his spouse).

We all know that when a debt is paid off, recording a Full Reconveyance
(Deed) is not subject to Real Estate Excise Tax, just as a Satisfaction of
Mortgage is not subject to REET.

I have known that for years, but cannot put my hands, or eyes, on the WAC
that provides an exemption from REET in this sort of case.

Is there a specific WAC that says that no REET Affidavit is needed when,
essentially, wiping out the security interest?  If a REET Affidavit is still
required, what is the WAC that provides for the exemption?

I won't wait till I get an answer, since most of you are wise enough to have
gone home prior to this hour.

Thanks for your attention to my temporary lapse of knowledge, otherwise
known, in some circles as a brain f- - - 

Best Regards,

Doug Bratt

Douglas J. Bratt

Lawyer

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