[WSBARP] Excise Tax on Transfer & Lease Question

[Jodi Bourg]

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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