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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif">It does answer my question, John, even though it isn’t the answer I wanted. Thanks,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:black">Lisa E. Schuchman<br>
206-960-4212<br>
<a href="http://www.lisaschuchman.com/" target="_blank">www.lisaschuchman.com</a><br>
<br>
I learn, I give. – Gloria Steinem<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:black">NOTE: I do not use encrypted email. Messages sent to or from my office via email are not secure and may not be protected by attorney-client privilege. This email address
is not monitored at all times. If your matter is urgent, please phone my office during regular business hours.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:black">Any tax advice included in this document and its attachments was not intended or written to be used, and it cannot be used, for the purpose of avoiding penalties under
the Internal Revenue Code.</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
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</span><b><span style="font-size:7.5pt;font-family:"Arial",sans-serif;color:#008100">Please consider the trees before printing this document</span></b><span style="font-size:12.0pt"><o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com [mailto:wsbapt-bounces@lists.wsbarppt.com]
<b>On Behalf Of </b>John McCrady<br>
<b>Sent:</b> Tuesday, August 8, 2017 1:44 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Is an assumption a refinance for excise tax purposes?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#1F497D">I am not sure this answers your question, but WAC 458-61A-102(2)(b) lists assumption of an underlying debt as a part of consideration.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D">John McCrady<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">Puget Sound Title Company<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">5350 Orchard Street West<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">University Place WA 98467<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D">253-476-5721<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#1F497D"><a href="mailto:j.mccrady@pstitle.com">j.mccrady@pstitle.com</a><o:p></o:p></span></p>
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<p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">
wsbapt-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">mailto:wsbapt-bounces@lists.wsbarppt.com</a>]
<b>On Behalf Of </b>Lisa E Schuchman<br>
<b>Sent:</b> Tuesday, August 08, 2017 1:22 PM<br>
<b>To:</b> WSBA Probate & Trust Listserv <<a href="mailto:wsbapt@lists.wsbarppt.com">wsbapt@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBAPT] Is an assumption a refinance for excise tax purposes?<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif">I’m making a gift transfer of real estate from parents to themselves, a child, and his spouse (the owners will be the two marital communities). The parents are gifting all of
their equity and the younger couple are doing a non-recourse assumption of the mortgage and will pay it going forward.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif">Does anyone have an opinion on how an assumption reads for excise tax purposes? WAC 458-61A-201 refers to a refinance of the debt, but not an assumption.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif">Thanks.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:black">Lisa E. Schuchman<br>
206-960-4212<br>
<a href="http://www.lisaschuchman.com/" target="_blank">www.lisaschuchman.com</a><br>
<br>
I learn, I give. – Gloria Steinem<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:black">NOTE: I do not use encrypted email. Messages sent to or from my office via email are not secure and may not be protected by attorney-client privilege. This email address
is not monitored at all times. If your matter is urgent, please phone my office during regular business hours.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Garamond",serif;color:black">Any tax advice included in this document and its attachments was not intended or written to be used, and it cannot be used, for the purpose of avoiding penalties under
the Internal Revenue Code.</span><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:24.0pt;font-family:Webdings;color:green">P</span><span style="font-size:10.0pt;font-family:"Arial Narrow",sans-serif;color:green">
</span><b><span style="font-size:7.5pt;font-family:"Arial",sans-serif;color:#008100">Please consider the trees before printing this document</span></b><span style="font-size:12.0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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