[WSBARP] REET exemption question

[Eric Lanza]

Listserv,

Parents sold property to children on Real Estate Contract.

Real estate contract paid in full many years ago. Parents executed fulfillment deed when paid off.

Children are selling the home, and title company notes that fulfillment deed was defective---the grantors on fulfillment did not match the grantors listed on the REC.

I obtained quit claim deed from parents to children--need to record this quit claim deed to clear title.

What would be the best REET exemption to claim? It isn't a true "re-recording" of the fulfillment deed, and I am not sure if the "clearing or exiting title" (WAC 458-61A-215) exemption applies here.

Is the "gift exemption" all I am left with?

I'm also curious what exemption is proper when recording a fulfillment deed---you would think it would fall under WAC 458-61A-208, but it seems to only apply to forfeitures, and not fulfillment deeds?

Thanks in advance for your thoughts!

Eric J. Lanza, J.D.
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eric at jaglaw.net<mailto:eric at jaglaw.net>

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