[WSBARP] REET exemption question

[Cyrus Field]

Eric-Its not even an "exemption" as I am pretty sure REET affidavit is not
required period for Fulfillment deed. See WAC 458-61A-303(3)(f)-I just
happened to be looking at this reg as local county was trying to insist
Affidavit required for recording TOD deed (It is not). Good luck, Cy

 

Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon)

phone: 360-472-1223 Mail: POB 367, Shaw Island, WA 98286 Office: 640 Mullis
St. Friday Harbor, WA

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From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Eric Lanza
Sent: Monday, October 08, 2018 10:26 AM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] REET exemption question

 

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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