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Interesting - thanks </div>
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<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com> on behalf of Inge Fordham <inge@fordhamlegal.com><br>
<b>Sent:</b> Thursday, September 15, 2022 11:59 AM<br>
<b>To:</b> WSBA Probate & Trust Listserv <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBAPT] Sibling buying out other</font>
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<p class="x_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).</p>
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<p class="x_MsoNormal" style="margin-bottom:3.0pt"><b><span style="font-size:13.0pt; font-family:"Cambria",serif; color:#203864">Inge A. Fordham | Attorney</span></b><span style="font-size:12.0pt"></span></p>
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<p class="x_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</span></p>
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<p class="x_MsoNormal"><span style="font-family:"Times New Roman",serif; color:black">Hi,</span></p>
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<p class="x_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? </span></p>
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<p class="x_MsoNormal"><span style="font-family:"Times New Roman",serif; color:black">Thanks </span></p>
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<p class="x_MsoNormal"><span style="font-family:"Times New Roman",serif; color:black">mike </span></p>
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