[WSBAPT] Real Excise tax question

[Margaret Delp]

Hello everyone:

H and W divorce one year ago.  Divorce decree awards Property to H, but
states that if H cannot refinance, the Property will be sold with the
proceeds split between H and W.  Property is titled in both names, mortgage
is in both names.

 

For the past year (post-divorce), W has made all mortgage payments - they
never refinanced.  Now, H decides to quit claim house to W and to let her
sell and take all proceeds from sale of property.  Since the quit claim deed
is not pursuant to a decree of dissolution, W is told by the county that she
needs to fill out Supplemental Excise Tax affidavit.

 

My question - since W has been making all the mortgage payments for the past
year and will continue to make the payments, is the transfer excise tax
exempt? (In other words, can she check box on the Supplement "2.B.3: Grantee
has made and will continue to make 100% of the payments on total debt of
___")?  It seems like the facts of H and W fit with the example in the
regulations at WAC 458-61A-201(6)(c)(vii), correct?

 

Thanks!

--

Law Office of Margaret Delp

2815 Howard Road, Second Floor

P.O. Box 292

Langley, WA 98260

(360) 579-4530 (telephone)

(360) 512-3114 (facsimile)

 

This email is covered by the Electronic Communications Privacy Act, 18
U.S.C. Sections 2510-2521, and is legally privileged. This email was sent by
an attorney or her agent, is intended only for the addressee's use, and may
contain confidential and privileged information.  If you are not the
intended recipient, you are hereby notified that any retention,
dissemination, reproduction or other use of the information contained in
this e-mail is strictly prohibited.  If you have received this email in
error, please delete it and immediately notify the sender by reply email.
Thank you for your cooperation.

 

 

 

 

 

 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20160518/c6016d3e/attachment.html>