<html xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<meta name="Generator" content="Microsoft Word 15 (filtered medium)">
<style><!--
/* Font Definitions */
@font-face
{font-family:"Cambria Math";
panose-1:2 4 5 3 5 4 6 3 2 4;}
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Georgia;
panose-1:2 4 5 2 5 4 5 2 3 3;}
@font-face
{font-family:"Segoe UI";
panose-1:2 11 5 2 4 2 4 2 2 3;}
@font-face
{font-family:"Plantagenet Cherokee";}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
font-size:11.0pt;
font-family:"Calibri",sans-serif;}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
span.gmailsignatureprefix
{mso-style-name:gmail_signature_prefix;}
span.EmailStyle22
{mso-style-type:personal-compose;
font-family:"Calibri",sans-serif;
color:windowtext;}
.MsoChpDefault
{mso-style-type:export-only;
font-family:"Calibri",sans-serif;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
--></style>
</head>
<body lang="EN-US" link="blue" vlink="purple" style="word-wrap:break-word">
<div class="WordSection1">
<p class="MsoNormal">Good morning,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Our practice provides 1031 services. Generally, the LLC that is holding the title to the property is transferred to the client. Then when the client is the owner of the LLC, Quit Claim Deed from the LLC to the member.<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#17365D">Very truly yours,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#17365D"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#17365D">Heather A. Walley<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#17365D">Attorney at Law<o:p></o:p></span></b></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;color:#1F497D">Pronouns: She/Her</span></i><i><span style="font-size:10.0pt;color:#1F497D"><o:p></o:p></span></i></p>
<p class="MsoNormal"><b><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:#17365D">McFERRAN LAW, P.S.<o:p></o:p></span></b></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#17365D">Address: 3906 South 74<sup>th</sup> Street, Tacoma, WA 98409<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#17365D">Direct Dial: (253) 284-3895<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#17365D">Facsimile: (253) 284-3855<o:p></o:p></span></i></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#17365D">Email: </span></i><i><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#0070C0">
<a href="mailto:hwalley@mcferranlaw.com"><span style="color:#0070C0">hwalley@mcferranlaw.com</span></a></span></i><i><span style="font-size:10.0pt;font-family:"Times New Roman",serif;color:#17365D"><o:p></o:p></span></i></p>
<p class="MsoNormal"><o:p> </o:p></p>
<div style="border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b> wsbapt-bounces@lists.wsbarppt.com <wsbapt-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Tracy Paul<br>
<b>Sent:</b> Tuesday, September 12, 2023 10:13 AM<br>
<b>To:</b> wsbapt@lists.wsbarppt.com<br>
<b>Subject:</b> [WSBAPT] Failed reverse 1031 exchange question<o:p></o:p></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal">Good Morning Listmates,<o:p></o:p></p>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">A client has a failed reverse 1031 exchange. They purchased the exchange property through a facilitator, but failed to sell the property they planned to use in the exchange. The exchange facilitator still holds title and needs to transfer
the purchased property to the client. The facilitator is unsure which WAC exemption to cite on the REET. Excise tax was paid when the facilitator purchased the exchange property and no consideration will be paid for the transfer to the client (since the property
was purchased with client's funds).<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">I'm sure this is not the first failed reverse exchange. Has anyone had a similar experience and know which WAC exemption is appropriate in this situation?<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<div>
<p class="MsoNormal">Thanks!<o:p></o:p></p>
</div>
<div>
<p class="MsoNormal">Tracy<br clear="all">
<o:p></o:p></p>
<div>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<p class="MsoNormal"><span class="gmailsignatureprefix">-- </span><o:p></o:p></p>
<div>
<div>
<div>
<p class="MsoNormal"><b><span style="font-size:14.0pt;font-family:"Georgia",serif;color:red">TRACY PAUL</span></b><o:p></o:p></p>
</div>
<div>
<div>
<div>
<div>
<div>
<div>
<div>
<p style="background-image:initial;background-repeat:initial"><span style="font-size:14.0pt;font-family:"Arial",sans-serif;color:black">Life and Legacy Wealth Planning Attorney</span><o:p></o:p></p>
<div>
<p style="background-image:initial;background-repeat:initial"><strong><span style="font-size:18.0pt;font-family:"Georgia",serif;color:red">HAYMOND LAW</span></strong><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#222222"><o:p></o:p></span></p>
</div>
<div>
<p style="background-image:initial;background-repeat:initial"><strong><span style="font-size:9.5pt;font-family:"Calibri",sans-serif;color:red">P</span></strong><span style="font-size:9.5pt;color:black"> </span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"><a href="tel:435.709.5820" target="_blank"><span style="color:#1155CC">435.709.5820</span></a></span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#222222"><o:p></o:p></span></p>
</div>
<div>
<p style="background-image:initial;background-repeat:initial"><strong><span style="font-size:9.5pt;font-family:"Calibri",sans-serif;color:red">W </span></strong><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black"><a href="http://deaconhaymond.com/" target="_blank"><span style="color:#1155CC">deaconhaymond.com</span></a></span><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:#222222"><o:p></o:p></span></p>
</div>
</div>
<div>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Plantagenet Cherokee",serif;color:#212121">If in need of additional or immediate assistance,</span><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"><o:p></o:p></span></p>
</div>
<div>
<p class="MsoNormal"><span style="font-size:9.0pt;font-family:"Plantagenet Cherokee",serif;color:#212121">please also consider contacting our Production Director: </span><span style="font-size:11.5pt;font-family:"Segoe UI",sans-serif;color:#212121"><a href="mailto:khaymond@deaconhaymond.com" target="_blank"><span style="font-size:8.0pt;font-family:"Plantagenet Cherokee",serif;color:#0563C1">Katherine
Haymond</span></a><o:p></o:p></span></p>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body>
</html>