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

[Rob Rowley]

Thanks.



Attorney Robert R Rowley

W: (509) 252-5074

M: (509) 994-1143

rob at rowleylegal.com





*From:* Doug Owens <dougowens at seattlerelawyer.com>
*Sent:* Thursday, December 19, 2019 11:31 AM
*To:* WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
*Cc:* Rob Rowley <rob at rowleylegal.com>
*Subject:* Re: [WSBARP] Excise on Assignments (458-61A-104) & Assignment of
Sale Agreements By Only Licensed Brokers (RCW 18.85)?



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*

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a:

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