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<p class="MsoNormal">I would think you could put the agreement in a TEDRA that both parties sign and, assuming no existing mortgage, sister could purchase the house from the estate in the agreed-upon amount that sister is paying brother. The transaction would
trigger excise tax on 50% of the purchase (as it will obviously be below FMV) and also has gift tax implications. I don’t see any way around that (but some of our creative colleagues just might).<o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:12.0pt;color:black">From: </span></b><span style="font-size:12.0pt;color:black"><wsbapt-bounces@lists.wsbarppt.com> on behalf of "michael westseattleattorney.com" <michael@westseattleattorney.com><br>
<b>Reply-To: </b>WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Date: </b>Thursday, September 15, 2022 at 11:38 AM<br>
<b>To: </b>WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject: </b>[WSBAPT] Sibling buying out other<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:black">Hi,<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:black">Two siblings , brother and sister with sister buying out brouther. Bank saying that it has to be sister buying real property from the estate. Will that require them to pay the
1.78% excise tax? Any way to avoid that like giving real property to sister and have her refinance the real property and just give brother the money? <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:black">Thanks <o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif;color:black">mike <o:p></o:p></span></p>
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