[WSBARP] Change Name of Title Holder

[Clark, Catherine]

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');>
NOTICE: The information contained in this electronic information transmission is confidential. If you are not the intended recipient, or the employee or agent responsible for delivering it to the intended recipient, you are hereby notified that any use, dissemination, distribution or copying of this communication is prohibited.  If you received this communication in error, please immediately notify the sender by telephone at (206) 838-2528. Thank you.

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>

This electronic message contains information which may be confidential and/or legally privileged. The information is intended for the use of the individual or entity named above. If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the contents of this transmission is prohibited. If you have received this electronic transmission in error, please notify me by telephone or by email immediately.


________________________________
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');>
NOTICE: The information contained in this electronic information transmission is confidential. If you are not the intended recipient, or the employee or agent responsible for delivering it to the intended recipient, you are hereby notified that any use, dissemination, distribution or copying of this communication is prohibited.  If you received this communication in error, please immediately notify the sender by telephone at (206) 838-2528. Thank you.


_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com<mailto:WSBARP at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbarp

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20150415/f537574f/attachment.html>