[WSBARP] REETA

[John J. Sullivan]

Marvin:

Interesting question. It kind of reminds me of situations with the IRS where the question has come up whether there was “eleemosynary intent” that would render debt forgiveness not income because it is a gift. 

WAC 458-61A-201 doesn’t seem to speak to intent, just the absence of consideration. I’m going to assume the grantee of the condo is not assuming responsibility for any taxes or HOA dues already owing. That would be consideration. 

I would just give careful thought to what the client is required to say, under penalty of perjury, in the Gift Supplement of the REET. Make sure you and the client are comfortable it’s true. 

John J. Sullivan

Sent from my iPhone

> On Mar 17, 2021, at 2:47 PM, Pam Rohr <phr at trlaw-spokane.com> wrote:
> 
> 
> That could still be a gift if money isn’t changing hands.  You could give someone your house because you do not want to be liable for future taxes, insurance, etc.
>  
> Pamela H. Rohr, Esq.
> Trunkenbolz | Rohr pllc
> P.O.  Box 14033       
> Spokane, WA  99214
> (509) 928-4100
> phr at trlaw-spokane.com
> www.SpokaneLegalEagle.com
>  
> CONFIDENTIALITY NOTE:  This electronic mail transmission may contain legally privileged and/or confidential information. This communication originates from the law firm of Trunkenbolz | Rohr PLLC, and is protected under the Electronic Communication Privacy Act, 18 U.S.C. § 2510-2521. Do not read this if you are not the person(s) named. Any use, distribution, copying, or disclosure by any other person is strictly prohibited. If you received this transmission in error, please notify the sender by telephone (509) 928-4100 or send an electronic mail message to the sender or PHR at TRlaw-spokane.com and destroy the original transmission and its attachments without reading or saving in any manner.  Do not deliver, distribute or copy this message and/or any attachment and, if you are not the intended recipient, do not disclose the contents or take any action in reliance upon the information contained in this communication or any attachments.
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> From: wsbarp-bounces at lists.wsbarppt.com [mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Marvin Benson
> Sent: Wednesday, March 17, 2021 2:28 PM
> To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
> Subject: [WSBARP] REETA
>  
> HI
> This must be a really stupid question. Here goes:  Deed of real estate condo unit for zero dollars.  Seller just wants relief from  future association dues and assessments.  Therefore not a gift.  
> What will treasurer accept on the REETA?
>  
> Marvin Benson
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