[WSBARP] Excise Tax on Transfer & Lease Question

[MK Henderson]

The exception is http://apps.leg.wa.gov/wac/default.aspx?cite=458-61A-211
mere change in identity of form.  As long as the transfer is in the same
percentage it is a non taxable event. Still need to file the Real Estate
Excise Tax Form. 

Not sure about the attractive nuisance issue.


On Wed, May 28, 2014 at 4:43 PM, Jodi Bourg <jlbourg at comcast.net> wrote:


Mates,

 
I've got HCs one of whom owns the home in King County in which they live.
They are planning to rent it out.  So far, so good.  They want to quit
claim this property to their LLC.  I know that quit claiming from an LLC
to its members exempts it from paying excise tax, but does it work the
other way?  I imagine the WACs have the answer somewhere, but I was hoping
that someone would know off the top of their head.
 
The other part of this question has to do with the fact that HCs' home is
waterfront property and they are concerned about liability against, for
lack of a better term, an accident having to do with someone falling in
the water or worse.  Has anyone dealt with this concern in a lease and if
so, would you be willing to share it with me.
 
Many thanks.
 
Jodi Bourg

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-- 

Mary K. Henderson
Henderson Law Office PLLC
1123 Maple Ave SW, Suite 225
Renton, WA 98057
206-650-2472
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