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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">I think your analysis is perfect. Part inheritance/ part sale.
<o:p></o:p></span></b></p>
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<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Lucida Handwriting";color:#31849B">Kerry E. Brink<o:p></o:p></span></b></p>
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<p class="MsoNormal"><i><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">______________________________<o:p></o:p></span></i></p>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Calibri","sans-serif";color:#215868">CONFIDENTIALITY DISCLAIMER:</span><span style="font-size:9.0pt;font-family:"Calibri","sans-serif";color:#1F497D"> This Electronic Message contains information
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>David Faber<br>
<b>Sent:</b> Monday, July 18, 2016 10:38 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv<br>
<b>Subject:</b> [WSBAPT] Partial Sale & Partial Inheritance of Real Property<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Working with a PR on an estate where everything is left to the children of the deceased in equal shares. The estate owns real property that one of the beneficiaries ("B") wants to take from the estate. The PR and B have settled on a price
(after having comp studies done by three real estate brokers) and are prepared to move forward with the transaction. The problem is that the house is valued at more than B's equal share of the estate assets and, accordingly, we need to structure the transaction
as part purchase and part inheritance. <o:p></o:p></p>
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<p class="MsoNormal">My question: how do I structure this properly? Note in the Purchase and Sale Agreement that the agreed upon value of the property is [x] but that B is purchasing the property in part and inheriting in part, and that B's existing equity
is such-and-such amount leaving an outstanding purchase balance of $[x]? If so, do I just claim a partial exemption on the Real Estate Excise Tax Affidavit?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">I hope I'm not overthinking this. Thank you for your help.<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">Best,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">David J. Faber<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">Faber Feinson PLLC<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">210 Polk Street, Suite 1<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Arial","sans-serif"">Port Townsend, WA 98368<br>
(360) 379-4110<o:p></o:p></span></p>
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