[WSBARP] Excise Tax

[Mark Anderson]

No excise tax would be due if it can be characterized as a gift.  This could also be exempt under WAC 458-61A-215, depending on the circumstances under which they took title.

Be aware that, although A did not sign the note, the transfer might still trigger a due on sale clause in the deed of trust.

Mark B. Anderson
ANDERSON LAW FIRM PLLC
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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Nestor Gorfinkel
Sent: Tuesday, November 2, 2021 11:22 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] Excise Tax

Property owned by unmarried couple. They split up and there is a mortgage, however even though A and B signed the DT, the credit (loan) and the note are under B alone.

Is excise tax paid when A quit claims to B?


Nestor Gorfinkel, Attorney at Law
Licensed in Florida & Washington State
Florida Civil-Law (International) Notary

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