[WSBAPT] Probate - distribution in repayment of loan

[Dalynne Singleton]

If the parents are entitled to the home as heirs, I would think a PR deed w/o excise tax would be best way to go.
The parents can then forgive the loan because they received the house.
Is there someone who is disputing that the parents are entitled to the home or are their creditors that need to be paid and the home is the only asset to cover those creditors?

Dalynne Singleton

Gourley Law Group
Snohomish Escrow
The Exchange Connection
1002 10th Street / PO Box 1091
Snohomish, WA 98291

360.568.5065
360.329.4079
360.568.8092  fax
dalynne at glgmail.com<mailto:dalynne at glgmail.com>

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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jennifer Sohn
Sent: Thursday, May 26, 2016 12:05 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Probate - distribution in repayment of loan

Son passed away and parent is the sole heir. During son's life, the parent loaned him money and recorded a DOT on the house. So, parent (the sole heir and PR) is trying to get the house as a repayment of the loan during probate. Is this done through a Deed In Lieu? or just PR's Deed with explanation that this is a distribution as repayment of loan?

Thanks.


--

Best regards,



Jennifer Y. Sohn

Attorney at Law

(Licensed in CA and WA)

Sohn Law PLLC

10900 NE 4th Street, Suite 1850

Bellevue, WA 98004

Tel: 425.522.3861

Fax: 425.732.9748

Email: jennifer at sohn-law.com<mailto:jennifer at sohn-law.com>

http://www.sohn-law.com<http://www.sohn-law.com/>



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