<div dir="ltr">The Real Estate Excise Tax would be owed on the Promissory note because the exchange is not just an inheritance. If the siblings agree they could enter a TEDRA agreement setting out the "inheritance" portion and the amount of the sale. </div><div class="gmail_extra"><br><div class="gmail_quote">On Tue, Mar 17, 2015 at 8:41 AM, Chandra Lewnau <span dir="ltr"><<a href="mailto:chandra@lewnaulaw.com" target="_blank">chandra@lewnaulaw.com</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex"><div dir="ltr">I have a probate where one heir wishes to purchase the decedent's home. Is there any reason this can't be done in one step - i.e. a deed from the PR (as pr and as individual) to the heir - rather than PR to all heirs and then all heirs to the purchasing heir? It's a small estate with two sibling heirs who get along well. The purchasing heir will take a smaller share of other assets and give a promissory note for the remaining balance with a relatively short payoff. It seems simple, I'm wondering if there are any tax or other consequences I may be missing.<br><br><div href="http://WISESTAMP_SIG_3ebe5215d8ca0d5cbf2d0c1d7ec2c718"><div><div style="max-width:600px;direction:ltr"> <div style="margin:8px 8px 0 0"> <div style="border-bottom:1px solid #0072b1;font:16px Arial;color:#3a3637;margin-bottom:5px"> <span style="border-bottom:3px solid #0072b1;padding:0 15px 0 5px"> <b style="color:#333">Chandra M. Lewnau</b>    <span style="font-size:13px">Wills & Trusts | Probate | Small Business</span> </span> </div> <table border="0" style="width:440px"> <tbody><tr valign="top"> <td style="max-width:300px;width:70px"> <img src="https://s3.amazonaws.com/webapp.wisestamp.com/3t4mAVteS2aT12xowlE2_chandra_profile_by_kate_151.png" style="max-width:295px;max-height:295px;border-radius:4px;width:65px;min-height:px" alt="photo"> </td> <td style="font:13px Arial;color:#4e4b4c;padding-left:10px"> <div><span style="color:#0072b1;font-size:12px">Phone:</span><a href="tel:206-317-4282" style="color:#4e4b4c;font-size:12px;text-decoration:none" target="_blank"> 206-317-4282</a></div> <div><span style="color:#0072b1;font-size:12px">Email:</span><a href="mailto:chandra@lewnaulaw.com" style="color:#4e4b4c;font-size:12px;text-decoration:none" target="_blank"> chandra@lewnaulaw.com</a></div> <div><span style="color:#0072b1;font-size:12px">Website:</span><a href="http://lewnaulaw.com" style="color:#4e4b4c;font-size:12px;text-decoration:none" target="_blank"> lewnaulaw.com</a></div> <div><span style="color:#0072b1;font-size:12px">Address:</span> 1001 4th Ave., 44th Floor, Seattle, WA 98154</div> <div style="padding-top:3px"><a href="http://linkedin.com/in/chandralewnau" target="_blank"><img src="https://s3.amazonaws.com/images.wisestamp.com/icons/linkedin.png" width="16" height="16"></a> <a href="http://twitter.com/lawspotting" target="_blank"><img src="https://s3.amazonaws.com/images.wisestamp.com/icons/twitter.png" width="16" height="16"></a> <a href="http://plus.google.com/+ChandraLewnau/posts" target="_blank"><img src="https://s3.amazonaws.com/images.wisestamp.com/icons/googleplus.png" width="16" height="16"></a></div> </td> </tr> </tbody></table> </div><div style="clear:both"></div><div style="font-size:12px">In-person meetings available in West Seattle or downtown Seattle.</div><div style="max-width:469px;margin:8px 8px 0 0;font-size:12px"> <table> <tbody><tr> <td style="vertical-align:middle"> <a style="vertical-align:middle" href="http://scheduleonce.com/chandralewnau" target="_blank"><img src="http://images.wisestamp.com.s3.amazonaws.com/email-apps/event_button/event_button_1.png" style="display:block;margin-bottom:auto;margin-right:4px"></a> </td> <td style="margin:0 4px;vertical-align:middle"> <a style="margin:0 4px" href="http://scheduleonce.com/chandralewnau" target="_blank">Schedule an appointment online</a> </td> </tr> </tbody></table> </div><div style="max-width:600px;margin:8px 8px 0 0;color:gray;border-top:1px solid gray;font-size:13px"><div>CONFIDENTIAL COMMUNICATION - This communication constitutes an electronic communication within the meaning of the Electronic Communications Privacy Act, 18 U.S.C. Section 2510, and its disclosure is strictly limited to the recipient intended by the sender. It may contain information that is proprietary, privileged, and/or confidential. If you are not the intended recipient, any disclosure, copying, distribution, or use of any of the contents is STRICTLY PROHIBITED. If you have received this message in error, please notify the sender immediately and destroy the original transmission and all copies.<br> <br>IRS CIRCULAR 230 DISCLOSURE - To ensure compliance with requirements imposed by the IRS, we hereby inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (a) avoiding penalties under the 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<a href="http://mailman.fsr.com/mailman/listinfo/wsbapt" target="_blank">http://mailman.fsr.com/mailman/listinfo/wsbapt</a><br></blockquote></div><br><br clear="all"><div><br></div>-- <br><div class="gmail_signature"><div dir="ltr">Mary K. Henderson<div>Henderson Law Office PLLC<br>1123 Maple Ave SW, Suite 225</div><div>Renton, WA 98057</div><div>206-650-2472</div></div></div>
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