[WSBARP] CIR and excise tax

Tue Feb 25 12:53:21 PST 2020

Unlike marriages, CIRs are determined when the relationship ends, not during
the CIR.  For example, being in a CIR does not provide the partners with
management rights over each other's property.  So characterizing a property
transfer as a gift when there is consideration changing hands ('buying out")
is not legal.

I am unclear on the excise tax implications of a court dividing
community-like real property after the relationship is over.  Like a gift?
What if the court gives one party the real property and the other cash?  But
this is after the relationship is over.

                Steve

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
On Behalf Of Jeanne Dawes
Sent: Tuesday, February 25, 2020 11:42 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] CIR and excise tax

Could you not characterize it as a gift?  Also, you might want to consider
having them enter into a Status of Property Agreement, to assure that down
the road claims cannot be made by the person transferring interest or his or
her heirs.

Jeanne 

Jeanne J. Dawes

Attorney at Law

Gore & Grewe, P.S.

103 E. Indiana Avenue, Suite A

Spokane, WA 99207-2317

Voice:  509-326-7500

Fax:      509-326-7503

 <mailto:jjdawes at goregrewe.com> jjdawes at goregrewe.com

INFORMATION CONTAINED IN THIS E-MAIL TRANSMISSION IS PRIVILEGED AND
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From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>  On Behalf Of Eric Nelsen
Sent: Tuesday, February 25, 2020 10:27 AM
To: cole-gilday at stanwoodlaw.net <mailto:cole-gilday at stanwoodlaw.net> ; WSBA
Real Property Listserv <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: Re: [WSBARP] CIR and excise tax

I think people do get confused easily on that issue because people talk
about "domestic partner" casually as if that included CIRs, without
realizing that the phrase as used in the WAC means specifically a
state-registered domestic partnership under RCW 26.60
<https://app.leg.wa.gov/RCW/default.aspx?cite=26.60&full=true> . See WAC
458-61A-102(7) <https://apps.leg.wa.gov/wac/default.aspx?cite=458-61A-102>
for definition of domestic partner.

Sincerely,

Eric

Eric C. Nelsen

Sayre Law Offices, PLLC

1417 31st Ave South

Seattle WA 98144-3909

206-625-0092

eric at sayrelawoffices.com <mailto:eric at sayrelawoffices.com> 

From: Robert R. Cole <cole-gilday at stanwoodlaw.net
<mailto:cole-gilday at stanwoodlaw.net> > 
Sent: Tuesday, February 25, 2020 10:24 AM
To: Eric Nelsen <Eric at sayrelawoffices.com <mailto:Eric at sayrelawoffices.com>
>; WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: Re: [WSBARP] CIR and excise tax

Thanks, that is what I told my client but she was advised differently
elsewhere.

Very Truly Yours,

Robert R. Cole

Law Office of Cole & Gilday, P.C. 

10101 - 270th St. NW 

Stanwood, WA 98292 

(360) 629-2900 (Telephone) 

(360) 629-0220 (Fax) 

This message contains confidential and privileged information that is
intended only for the named recipient(s).  Unless you are the named
recipient or authorized agent thereof, you are prohibited from reading,
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On 2/25/2020 10:21 AM, Eric Nelsen wrote:

No REET exemption for transfer/creation of separate property from community
property under RCW 458-61A-203
<https://apps.leg.wa.gov/wac/default.aspx?cite=458-61A-203>  if not married
and not a state-registered domestic partnership. Ordinary CIR gets no tax
break, unfortunately.

Sincerely,

Eric

Eric C. Nelsen

Sayre Law Offices, PLLC

1417 31st Ave South

Seattle WA 98144-3909

206-625-0092

eric at sayrelawoffices.com <mailto:eric at sayrelawoffices.com> 

From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
<mailto:wsbarp-bounces at lists.wsbarppt.com>
<wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Robert R. Cole
Sent: Tuesday, February 25, 2020 10:02 AM
To: WSBA Probate & Trust Listserv  <mailto:wsbarp at lists.wsbarppt.com>
<wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] CIR and excise tax

Couple are in obvious CIR (children together).  One is buying the other out
of the family home.  Any exemption??  Or must they be legally married?

-- 

Very Truly Yours,

Robert R. Cole

Law Office of Cole & Gilday, P.C. 

10101 - 270th St. NW 

Stanwood, WA 98292 

(360) 629-2900 (Telephone) 

(360) 629-0220 (Fax) 

This message contains confidential and privileged information that is
intended only for the named recipient(s).  Unless you are the named
recipient or authorized agent thereof, you are prohibited from reading,
copying, distributing or otherwise disseminating such information.  If you
receive this communication in error, please notify the sender immediately.

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