[WSBAPT] Real Estate Contract - Recording - REET - Skagit County

[Eric Nelsen]

Yes, the fulfilment deed is never recorded until the contract is paid in full. Not sure what the treasurer is talking about. REET is paid when the contract is recorded, and then the fulfilment deed recites something "REET paid in full on [date], receipt #___________" on its face, so it can be recorded without paying tax later on.

Sincerely,

Eric

Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1417 31st Ave South
Seattle WA  98144-3909
phone 206-625-0092
fax 206-625-9040

Please Note that We Have Moved. We have moved our Seattle office to Mount Baker Ridge (a small commercial community just above the I-90 tunnel). Our new address is 1417 31st Avenue South, Seattle WA 98144. All other contact information remains the same.

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Neli Espe, J.D. - Olympic Legal
Sent: Monday, April 10, 2017 4:04 PM
To: WSBA Probate & Trust Listserv
Subject: [WSBAPT] Real Estate Contract - Recording - REET - Skagit County

Dear List-mates,

PNC, seller in a real estate contract, wants to record the contract and pay the REET, but county treasurer tells her she needs to record a QCD or SWD as well.

PNC is adamant that she will only do fulfillment deed when she gets all the payments on the contract.

My understanding is that REET is triggered on the signing of the contract, but could the real estate contract be recorded without the QCD or SWD?

Thanks for your help,

Neli

________________________________

Neli Espe, J.D.  |  Olympic Legal
2114 Commercial Ave., Anacortes, WA 98221
360.630.3635

Business | Real Estate | Estate Planning

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