[WSBARP] PC put grandchild's name on deed, now wants to transfer property to RLT - how to complete REETA?

[Jon Fritzler]

Potential Client added adult grandchild's name to deed to his residence for estate planning purposes - no consideration was given by grandchild. PC and grandchild are joint tenants. PC now wants to transfer it to his Revocable Living Trust. Grandchild is willing to sign deed transferring his interest the property to PC's RLT.  Transfer by PC of his interest to his RLT is clearly exempt from real estate excise tax under WAC 458-61A-211(2)(g).  But what about transfer by grandchild of his interest to PC's RLT?  I presume it is exempt as a gift under WAC 458-61A-201 since no consideration is being given for the transfer?

Also, if two different type of exemptions are being claimed are two separate REETA's required or can PC and grandchild both sign the same REETA and have it cite both WAC 458-61A-211(2)(g) and WAC 458-61A-201?

Thanks in advance!

Sincerely,
Jon M. Fritzler
Attorney at Law
PO Box 61451
Vancouver, WA 98666
Tel. 360.818.4431
E-mail fritzlerlaw at outlook.com<mailto:fritzlerlaw at outlook.com>

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