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<p class="MsoNormal"><a name="_olk_quotedtext">Good Morning Everyone-</a><span style="mso-bookmark:_olk_quotedtext"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_olk_quotedtext"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_olk_quotedtext">Does anyone have experience with avoiding a due on sale clause under the
<span style="mso-ligatures:standardcontextual">Garn-St. Germaine Act, when the transfer is from a Revocable Living Trust to an heir/beneficiary(son)? My client’s father passed away with his house titled in his Revocable Living Trust and it is now being transferred
to the son, along with the debt. I am wondering if there is a way for my client to avoid the due on sale clause. The Bank is saying no and the loan needs to be refinanced at the current rates.<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_olk_quotedtext"><span style="mso-ligatures:standardcontextual"><o:p> </o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_olk_quotedtext"><span style="mso-ligatures:standardcontextual">Thank you,<o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_olk_quotedtext"><span style="mso-ligatures:standardcontextual">Loren</span></span><span style="mso-bookmark:_olk_quotedtext"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_olk_quotedtext"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="mso-bookmark:_olk_quotedtext">Lawrence A. Pirkle<br>
Pirkle Law Firm, Inc. P.S.<br>
1220 Memorial Hwy., Suite A<br>
P.O. Box 1788<br>
Mount Vernon, WA 98273<br>
Phone: (360) 336-6587 <br>
</span><a href="mailto:loren@pirklelawoffice.com"><span style="mso-bookmark:_olk_quotedtext">loren@pirklelawoffice.com</span><span style="mso-bookmark:_olk_quotedtext"></span></a><span style="mso-bookmark:_olk_quotedtext"><br>
<br>
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recipient, any disclosure, copying, distribution or other use of the contents of this information is strictly prohibited. If you have received this e-mail in error, please notify us by return e-mail and delete this message. Thank you.<br>
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---IRS CIRCULAR 230 NOTICE---<br>
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Pursuant to requirements related to practice before the Internal Revenue Service, any tax advice contained in this communication (including attachments) is not intended to be used, and cannot be used for purposes of (i) avoiding penalties imposed under the
United States Internal Revenue Code, or (ii) promoting, marketing or recommending to another person any tax-related matters.</span></span><span style="mso-bookmark:_olk_quotedtext"><o:p></o:p></span></p>
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