[WSBARP] REET question

[Jeanne Dawes]

I do not think Community Property/Dissolution exemption will work, unless you have some type of court order dividing the property.

The WAC specifically state that if you transfer 50% or more of an ownership interest in an entity, including an LLC, in any 12-month period, that the REET will be due on the value of the interest transferred.

You could pay the tax and then request a refund  based on your particular circumstances, but I think it will be a long-shot.

Jeanne

Jeanne J. Dawes
Attorney at Law
Gore & Grewe, P.S.
103 E. Indiana Avenue, Suite A
Spokane, WA 99207-2317
Voice:  509-326-7500
Fax:      509-326-7503
jjdawes at goregrewe.com<mailto:jjdawes at goregrewe.com>
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From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Tom J. Westbrook
Sent: Wednesday, December 02, 2015 6:11 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] REET question

Have a client that has been in a long term committed intimate relationship, but not a registered domestic partner. She is selling her 60% interest in the LLC she owned with her partner that owns an office building and associated land as the primary asset. Can I use WAC 458-61A-203 exemption, transfer between domestic partners, to escape the REET or do they have to be registered domestic partners to qualify for the exemption?

Sincerely,

Tom

Thomas J. Westbrook
Attorney at Law

Thomas J. Westbrook, PLLC
PO Box 1
Littlerock, WA 98556

Olympia Office:
Evergreen Plaza Building
711 Capitol Way S.
Suite 101
Olympia, WA 98501

Telephone: 360-357-7400
Facsimile:  360-357-7414
Email:         tjw at w3net.net<mailto:tjw at w3net.net>
Skype: thomas.westbrook

Starting on January 1st, I will be moving my practice with:

Rodgers, Kee & Card
324 West Bay Drive NW, Ste. 201
Olympia, WA  98502
360-352-8311
tjw at buddbaylaw.com<mailto:tjw at buddbaylaw.com>

Current phone number and email will still work then as well.

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