[WSBARP] Change Name of Title Holder
Clark, Catherine
Cat at loccc.com
Wed Apr 15 09:10:45 PDT 2015
Excellent points. Sadly, no title insurance.
Beneficial ownership did not change, just the name.
Catherine C. Clark
Law Office of Catherine C. Clark PLLC
701 Fifth Avenue, Suite 4105
Seattle, WA 98104
Phone: (206) 838-2528
Fax: (206) 374-3003
Email: cat at loccc.com<javascript:_e(%7b%7d,%20'cvml',%20'cat at loccc.com');>
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Maureen Wickert
Sent: Wednesday, April 15, 2015 8:58 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] Change Name of Title Holder
It is best to record a new deed showing the transfer of the property from the old LLC's name to the new LLC's name. Being a mere change in identity, WAC 458-61A-211 should apply as an excise tax exemption. You should also notify the title company who issued title insurance when the old LLC purchased the property, if there is one. Later on, a title insurer problem will come up when the property is later sold. I had to correct title to real property for a client who came in with an LLC showing its current name and real property in its former name. Did ownership of the LLC change when the LLC changed name? If so, look at WAC 458-61A-101 concerning a possible taxability issue with a change in ownership of a LLC with real property as an asset.
Very truly yours,
Maureen A. Wickert, Attorney at Law
WICKERT LAW OFFICE
14900 Interurban Avenue South, Ste 255
Tukwila, WA 98168
Phone: 206-859-5502
Fax: 206-260-9005
www.wickertlawoffice.com<http://www.wickertlawoffice.com>
wickertlaw at comcast.net<mailto:wickertlaw at comcast.net>
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From: "Catherine Clark" <Cat at loccc.com<mailto:Cat at loccc.com>>
To: "WSBA Real Property Listserv" <wsbarp at lists.wsbarppt.com<mailto:wsbarp at lists.wsbarppt.com>>
Sent: Wednesday, April 15, 2015 8:36:14 AM
Subject: [WSBARP] Change Name of Title Holder
Listmates:
I represent an LLC which has changed its name after it purchased the property. A notice of name change was filed with the Secretary of State. However, its real estate remains in the old name.
My initial thought is to record a quit claim deed to change the name unless any of you smarter people than me have a better idea.
All thoughts appreciated.
Thanks.
Catherine C. Clark
Law Office of Catherine C. Clark PLLC
701 Fifth Avenue, Suite 4105
Seattle, WA 98104
Phone: (206) 838-2528
Fax: (206) 374-3003
Email: cat at loccc.com<https://web.mail.comcast.net/zimbra/JAVASCRIPT-BLOCKED_e(%7b%7d,%20'cvml',%20'cat at loccc.com');>
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