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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Jeff:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D">Take a look at WAC 458-61A-202(5)(c) (example 4). Assuming there isn't sufficient cash make nonpro rata distributions, any money the brother must pay his siblings
to buyout their interests will be subject to real estate excise tax. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D"><o:p> </o:p></span></p>
<p style="FONT-SIZE: 10pt; FONT-FAMILY: ARIAL"><strong>William O. Etter</strong><br>
Principal | Witherspoon • Kelley<br>
<a href="mailto:WOE@witherspoonkelley.com">WOE@witherspoonkelley.com</a> | <a title="Attorney Profile" href="http://www.witherspoonkelley.com/william-etter">
Attorney Profile </a>| <a href="http://www.witherspoonkelley.com/s/woe.vcf">vCard</a></p>
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: Arial" align="right"><font color="#ffffff">422 W. Riverside Ave, Ste 1100<br>
Spokane, WA 99201<br>
(509) 624-5265 (office)<br>
(509) 458-2728 (fax)<br>
witherspoonkelley.com</font></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>jeffrey winter<br>
<b>Sent:</b> Tuesday, June 19, 2018 4:13 PM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] REETA implications?<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"><span style="font-family:"Calibri","sans-serif";color:black">Listmates,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black">3 kids are inheriting real estate from a parent. Initially, they wanted to sell it, but now the brother wants to buy out his siblings' interest in the property. There is no
debt on the property. There are some bank accounts that might be used for nonprorata distribution purposes, but it's not clear that they are enough.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black">If the three enter into a TEDRA agreement that provides for this transaction, will there nevertheless be excise tax due if money changes hands?<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black">Thanks in advance,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black"><o:p> </o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black">Jeff Winter<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black">Jeffrey D. Winter, P.S.<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black">604 N. Main Street<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri","sans-serif";color:black">Ellensburg, WA 98926<o:p></o:p></span></p>
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