[WSBAPT] Real Property - No probate - over 15 years later!

[Mike Winslow]

QCD from Parents to living son, with a Lack of Probate Affidavit and a REETA
should allow completion of transfer to living son.
Mom and Dad will need to file a gift tax return under federal tax law, to
the extent the gift exceeds the annual exclusion gift amounts for two donors
to one done.
Ask a title company for their form of LOPA or contact me offline for my
form.
 
If brother wants assurance of clear title, then he may need to pay some
consideration for the transfer to qualify for a title policy. John McCrady
might better address that issue, as I don't recall ever obtaining title
coverage on a gift transfer and don't think it would be insurable, lacking
any consideration for the  transfer.
 
Michael A. Winslow
1204 Cleveland Ave.
Mount Vernon, WA 98273
Ph. 360-336-3321
Em. Mike at winslegal.com
 
This message is from an attorney, so it's confidential. If you are not the
intended recipient, it's too late to stop reading this message, but you may
not use it for any improper purpose. Huge Disclaimer available upon request.
 
From: wsbapt-bounces at lists.wsbarppt.com
[mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of G. (Gus) Benjamin
Lindsey III
Sent: Monday, July 09, 2018 12:13 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] Real Property - No probate - over 15 years later!
 
Hello,
 
PC is the parent of an adult child that died back in 2003. The child owned a
condominium at the time of death. PC apparently talked to a now retired
attorney about starting probate but never actually filed anything because PC
was overwhelmed with grief.
 
Decedent child had no will and had advised the parent that a brother should
inherit the condo. Decedent did not have a spouse or any children. PC
apparently paid off all creditor claims from insurance proceeds. The
surviving brother has been in possession of the condo and paid all
fees/costs related to the condo. 
 
PC wants to know if legal title for the condo can be transferred to the
surviving brother outside of opening probate for the sole purpose of
transferring ownership of the condo.
 
Anyone aware of any options for dealing with something like this 15 years
later? (I checked the assessor's office and the decedent is still listed as
the legal owner)
 
Thanks!
 
 
Sincerely,
 
G. (Gus) Benjamin Lindsey III
Attorney-at-Law

 
The Law Office of G. Benjamin Lindsey III
2012 Grade Road, Suite 202
Lake Stevens, WA 98258
 
Phone:   (425) 263-9585
 
website: www.gbl3law.com <http://www.gbl3law.com/> 
 
Employment/Labor Law     Construction Law     Civil Litigation     Estate
Planning      Probate     
Business Law
 
CONFIDENTIALITY NOTE: This e-mail message contains information belonging to
The Law Office of G. Benjamin Lindsey III, which may be privileged,
confidential and/or protected from disclosure.  The information is intended
only for the use of the individual or entity named above.  If you think that
you have received this message in error, please contact the sender.  If you
are not the intended recipient, any dissemination, distribution or copying
is strictly prohibited
 
 
 
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20180709/492b5164/attachment.html>
-------------- next part --------------
A non-text attachment was scrubbed...
Name: image001.png
Type: image/png
Size: 10411 bytes
Desc: not available
URL: <http://mailman.fsr.com/pipermail/wsbapt/attachments/20180709/492b5164/image001.png>