<div dir="ltr">Good Morning Listmates,<div><br></div><div>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).</div><div><br></div><div>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?</div><div><br></div><div>Thanks!</div><div>Tracy<br clear="all"><div><br></div><span class="gmail_signature_prefix">-- </span><br><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div><font color="#ff0000" face="Georgia, serif"><span style="font-size:18.6667px"><b>TRACY PAUL</b></span></font></div><div><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div dir="ltr"><div style="margin:0px"><p style="background-image:initial;background-repeat:initial"><font color="#000000" face="Arial, sans-serif"><span style="font-size:18.6667px">Life and Legacy Wealth Planning Attorney</span></font></p><div style="color:rgb(34,34,34);font-family:arial,sans-serif;font-size:12.8px"><p style="background-image:initial;background-repeat:initial"><strong><span style="font-size:18pt;font-family:Georgia,serif;color:red">HAYMOND LAW</span></strong><span style="font-family:Calibri,sans-serif;color:black"><u></u><u></u></span></p></div><div style="color:rgb(34,34,34);font-family:arial,sans-serif;font-size:12.8px"><p style="background-image:initial;background-repeat:initial"><strong><span style="font-family:Calibri,sans-serif;color:red">P</span></strong><span style="font-family:Calibri,sans-serif;color:black"> </span><span style="font-family:Arial,sans-serif;color:black;background-image:initial;background-repeat:initial"><a href="tel:435.709.5820" value="+14357095820" style="color:rgb(17,85,204)" target="_blank">435.709.5820</a></span><span style="font-family:Calibri,sans-serif;color:black"><u></u><u></u></span></p></div><div style="color:rgb(34,34,34);font-family:arial,sans-serif;font-size:12.8px"><p style="background-image:initial;background-repeat:initial"><strong><span style="font-family:Calibri,sans-serif;color:red">W </span></strong><span style="font-family:Arial,sans-serif;color:black"><a href="http://deaconhaymond.com/" style="color:rgb(17,85,204)" target="_blank">deaconhaymond.com</a></span></p></div></div><div style="font-size:15px;color:rgb(33,33,33);font-family:wf_segoe-ui_normal,'Segoe UI','Segoe WP',Tahoma,Arial,sans-serif;margin:0px"><font face="Calibri,sans-serif" size="2"><span style="font-size:11pt"><font face="Plantagenet Cherokee,serif" size="2"><span style="font-size:9pt">If in need of additional or immediate assistance,</span></font></span></font></div><div style="font-size:15px;color:rgb(33,33,33);font-family:wf_segoe-ui_normal,'Segoe UI','Segoe WP',Tahoma,Arial,sans-serif;margin:0px"><font face="Calibri,sans-serif" size="2"><span style="font-size:11pt"><font face="Plantagenet Cherokee,serif" size="2"><span style="font-size:9pt">please also consider contacting our Production Director: </span></font></span></font><a href="mailto:khaymond@deaconhaymond.com" style="color:rgb(17,85,204);font-size:11pt;font-family:Calibri,sans-serif" target="_blank"><font face="Plantagenet Cherokee,serif" size="1" color="#0563C1"><span style="font-size:8pt">Katherine Haymond</span></font></a></div></div></div></div></div></div></div></div></div></div></div>