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I'm usually just a lurker... but you provide so much to this list serve that I'm moved to respond. Attached is an example accepted by King County a couple of months ago</div>
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Brian</div>
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<p><span style="font-family: Calibri, Helvetica, sans-serif; font-size: 11pt; color: rgb(0, 0, 0);">Brian Wichmann<br>
Attorney at Law<br>
15201 Military Rd S<br>
SeaTac, WA 98188</span></p>
<p><span style="font-family: Calibri, Helvetica, sans-serif; font-size: 11pt; color: rgb(0, 0, 0);">(206) 244-7433</span></p>
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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 Eric Nelsen <eric@sayrelawoffices.com><br>
<b>Sent:</b> Wednesday, November 8, 2023 5:06 PM<br>
<b>To:</b> 'WSBA Probate & Trust Listserv' <wsbapt@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBAPT] Sale of house to heir with credit for inheritance share - and REET</font>
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<p class="x_MsoNormal">Estate sells house to an heir for defined Purchase Price of $500,000, and provides a credit of $50,000 against the Purchase Price as a partial distribution of inheritance.</p>
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<p class="x_MsoNormal">What should Real Estate Excise Tax be calculated upon?</p>
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<li class="x_MsoListParagraph" style="margin-left:0in">$450,000, because the consideration received is only that? BUT: Do the parties list $450,000 as the Purchase Price on the REET Affidavit, despite the prima facie specification of $500,000 as the Purchase
Price? Or does escrow valiantly attempt to list $500,000 as the Purchase Price, list an exemption for $50,000 and cite the inheritance WAC and provide the proper documentation, and then cross fingers and pray it doesn’t get screwed up?</li><li class="x_MsoListParagraph" style="margin-left:0in">$500,000, because it’s better to pay more tax than it is the deal with the deed getting bounced because it looks funny to somebody at the recorder’s office?</li></ol>
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<p class="x_MsoNormal">The form does seem to allow for a partial exemption, but I’ve never attempted it. Does it actually work?</p>
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<p class="x_MsoNormal"><span style="">Sincerely,</span></p>
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<p class="x_MsoNormal"><span style="">Eric</span></p>
<p class="x_MsoNormal"><span style=""> </span></p>
<p class="x_MsoNormal"><span style="">Eric C. Nelsen</span></p>
<p class="x_MsoNormal"><span style="">Sayre Law Offices, PLLC</span></p>
<p class="x_MsoNormal"><span style="">1417 31st Ave South</span></p>
<p class="x_MsoNormal"><span style="">Seattle WA 98144-3909</span></p>
<p class="x_MsoNormal"><span style="">206-625-0092</span></p>
<p class="x_MsoNormal"><span style=""><a href="mailto:eric@sayrelawoffices.com">eric@sayrelawoffices.com</a></span></p>
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