[WSBARP] REET on Transfer from Corp to Sole Owner and Spouse

[Bryce Dille]

To avoid to deeds what I have done in the past if the only asset of the corporation is the real estate is to 1/2 of the stock interest to the spouse Or transfer all the shares to himself in the spouses community property and then did the property from the corporation to the two shareholders and they can either claim exemption that this is a distribution from a corporation not subject to income tax or the mere change in identity exemption

Bryce H. Dille
Dille Law, PLLC
Office: 360-350-0270
Cell: 253-579-5561

** Please note that I use the dictation feature of my iPhone and that sometimes everything I say does not get properly translated**

On Dec 10, 2021, at 10:02 AM, Mark Anderson <marka at mbaesq.com> wrote:


Two deeds: that’s what I’ve done in the past.  It is too much of a challenge to cram too much into a single deed and REETA.  I try to make any transaction(s) as easy as possible for the county and a title company to interpret.

Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock St  Ste 209  PMB 4-12
Tacoma, Washington 98402
+1 253-327-1750
+1 253-327-1751 (fax)
marka at mbaesq.com<mailto:marka at mbaesq.com>
www.mbaesq.com<http://www.mbaesq.com/>
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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Eric Nelsen
Sent: Thursday, December 9, 2021 6:36 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] REET on Transfer from Corp to Sole Owner and Spouse

I am strongly inclined in these cases to use two deeds. The REET exemption issues cause too many problems. I have never had success putting two exemptions on one form.
Eric Nelsen
Sayre Law Offices PLLC
206-625-0092

On Dec 9, 2021 5:52 PM, Inge Fordham <inge at fordhamlegal.com<mailto:inge at fordhamlegal.com>> wrote:
Colleagues,

A client is refinancing a property that is presently titled in the name of a corporation the client owns (100%).  The client seeks to quit claim a property from the corporation to himself and his spouse.  However, I’m not sure this can be done in a single transaction without triggering excise tax on the 50% beneficial interest being transferred to the spouse.  I realize that we can claim exemptions on the transfer from the corporation to the client (a mere change in identity) and then from the client to the client and his spouse (for purposes of creating community property).  I’m trying to save him the cost of preparing and recording two separate quit claim deeds.  Is there any way to accomplish this in one exempt transaction?  (I’m also concerned that the auditor’s office will get testy if we claim two separate exemptions).

Thank you in advance,


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Inge A. Fordham | Attorney
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