[WSBAPT] QUESTION ON EXEMPTION ON PROPERTY TRANSFER

[Eric Nelsen]

Gift is exempt under WAC 458-61A-201<https://app.leg.wa.gov/WAC/default.aspx?cite=458-61A-201>, unless she is also taking over grantor's debt. See the WAC, and the supplemental statement form that is required, to disclose whether there is any debt on the property and if so, whether grantor or grantee will pay the debt after the transfer.

Sincerely,

Eric

Eric C. Nelsen
Sayre Law Offices, PLLC
1417 31st Ave South
Seattle WA 98144-3909
206-625-0092
eric at sayrelawoffices.com<mailto:eric at sayrelawoffices.com>

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Fern Herbert
Sent: Friday, April 25, 2025 2:12 PM
To: wsbapt at lists.wsbarppt.com
Subject: [WSBAPT] QUESTION ON EXEMPTION ON PROPERTY TRANSFER
Importance: High

Hello Listmates,

I have a client who is being gifted real property by a family member. Is there an appropriate exemption for this kind of transfer, or will she have to pay an excise tax on the transfer. The home value is over $500K, and she is currently living in it.


Fern Herbert
Managing Attorney
Zenith Law Group, PLLC

Business Mailing Address
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Lynnwood, WA  98036
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