[WSBARP] REETA

[Kailei Feeney]

I think I misunderstood and I agree with Mr. Krismer.

I think consideration, as relief from debt, is defined more narrowly than future obligation to pay HOAs and property taxes. As long as the Grantor is not getting out from any current obligations to be paid, like back HOA dues or property taxes, already due and owing, then it can still be a gift, if the other elements of the WAC are met.

Kailei

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Kary Krismer
Sent: Wednesday, March 17, 2021 3:04 PM
To: wsbarp at lists.wsbarppt.com
Subject: Re: [WSBARP] REETA


I don't understand why that wouldn't be a gift.  I don't think motivation for the transfer goes to the issue of whether or not it's a gift.

The thing that might trip you up is the debt against the property, but it sounds like the property is probably unencumbered.  Check out the WACs regarding gifts and debt if it is encumbered.

Kary L. Krismer

206 723-2148
On 3/17/2021 2:28 PM, Marvin Benson wrote:
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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