[WSBAPT] deed question

[Diane J. Kiepe]

I would require it be transferred exactly as it was given.  I would definitely not accept a Quit Claim if given by Stat Warr as noted.  I would insist on receiving the deed prior to listing it (which you likely already thought of).

There will be some debt forgiveness issues for the defunct buyer, your client will have a new basis for the current sale likely because the decedent didn’t own the land at death and the estate may have some tax related issues for prior sale – I know you didn’t ask tax questions but I wanted to note that just in case 😉

Best of luck.

Diane J. Kiepe

Diane J. Kiepe
Douglas Eden
717 W. Sprague Ave.
Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jenna Brozik
Sent: Wednesday, November 4, 2020 2:46 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] deed question

Hello listmates,

I am working on a probate in which the deceased owns property that has an owner contract and the buyer was paying a certain amount per month through Escrow.

The buyer has defaulted and not paid for the last two months.  The PRs agreed to sell the property and not go through the default process so long as the buyer deeds the property to the PRs to sell.

Should this be a quitclaim deed or a warranty deed?  And what tax exemption would apply?
Right now the buyer has ownership of the property by a statutory warranty deed.

Thanks in advance!
Jenna Brozik
Attorney at Law
Prinz & Brozik PLLC
445 S Grand Ave
Pullman, WA 99163
(509)338-0908 / (509) 338-3527 (fax)
jennaprinzlaw at gmail.com<mailto:jennaprinzlaw at gmail.com>

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