[WSBARP] Property Owned by Inactive Foreign Corporation

[Paul]

Also, don't forget the impact of FIRTPA.



-----Original Message-----
From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of David Hastings
Sent: Wednesday, October 26, 2016 1:27 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Property Owned by Inactive Foreign Corporation

I have a potential client who wants to buy a piece of property located in
Washington. The property is owned by an active AZ corporation. The
corporation was registered to do business in Washington, but that
registration has expired. The corporation was formed to hold the piece of
property in question, and has no other assets.

My initial reaction is that the sale of the property would be an isolated
transaction under RCW 23.95.520(i), and that the AZ corporation doesn't need
to re-register before closing the sale. But I haven't dealt with anything
like this before- am I missing something?

     -David Hastings


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