[WSBARP] Excise on Assignments (458-61A-104) & Assignment of Sale Agreements By Only Licensed Brokers (RCW 18.85)?

[Kaitlyn Jackson]

Interesting information. Thanks for that!

Kaitlyn

On Thu, Dec 19, 2019 at 11:36 AM Doug Owens <dougowens at seattlerelawyer.com>
wrote:

> Dear Rob, about nine years ago the DOL put out “guidance” on this point
> and it has been of concern to real estate investors since then.  I disagree
> with the department because a licensed broker is not a party to the
> underlying transaction but the buyer who assigns his or her contract to
> someone else is.  This is the guidance that the DOL put out which I
> understand will not go to the listserv.  Yours truly, Doug Owens
>
> On Dec 19, 2019, at 10:46 AM, Rowley, Rob <rob at rowleylegal.com> wrote:
>
> Any experience with DOR or DOL taking the position that real estate
> investors who assign purchase contracts must be licensed real estate
> brokers (RCW 18.85)?  I have seen a recent inquiry by DOL of one of my real
> estate investor clients. Clients who are in the business of getting
> property under contract and then assigning the buyer's interest for
> consideration that is typically only paid at the time of closing on the
> settlement statement.  One of the complaints was by a disgruntled local
> licensed real estate broker who is a competitor.
>
> Also, it has always been my understanding that under WAC 458-61A-104 as to
> the assignment consideration the seller does not pay excise but the
> purchaser does pay.
>
> Wanting to know what is going on statewide (if any) on these issues.
>
> Thank you and Merry Christmas.
>
> --
> Robert R. Rowley
> *Attorney & Counselor At Law*
> p: 509.252.5074  m: 509.994.1143
> f: 509.928.3084
> a: 7 S Howard St, Ste 218, Spokane, WA 99201
> w: rowleylegal.com  e: rob at rowleylegal.com
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> <https://twitter.com/ROBERTRROWLEY>
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>
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-- 
Thank you,

Kaitlyn R. Jackson | Attorney| DIMENSION LAW GROUP PLLC
130 Andover Park East, Suite 300 | Tukwila, WA 98188
t: *206.973.3500 *| f: *206.577.5090*| e: *kaitlyn at dimensionlaw.com*|
www.dimensionlaw.com

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