[WSBARP] REETA for entity transfer

[Paul Neumiller]

Under Section 7?


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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Chris B
Sent: Wednesday, November 2, 2022 12:00 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] REETA for entity transfer

I have a client who will be gifting her 50% ownership interest in an LLC which owns Seattle area RE to her nephew.  The property is F&C and of course, the LLC has no debt either.

https://dor.wa.gov/sites/default/files/2022-10/84-0001b-Jan2023.pdf?uid=6361558e64656<https://nam12.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdor.wa.gov%2Fsites%2Fdefault%2Ffiles%2F2022-10%2F84-0001b-Jan2023.pdf%3Fuid%3D6361558e64656&data=05%7C01%7C%7C6c447255fb7f43a69bbb08dabd051ce1%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638030126909370767%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=7WLWG6Oy%2FxFM6HoQGoubKmRo5OsjPS6ZtcBIfM6w6C8%3D&reserved=0>

I see in the instructions, "(8) Reporting requirements.
(a) The transfer of a controlling interest in real property must be reported to the department when no instrument is recorded in the official real property records of the county in which the property is located. If the transfer is not taxable due to an exemption, that exemption should be stated on the affidavit."

So, where does one list the exception?  Am I missing something?

Chris Benis
First Avenue Law Group, PLLC
321 First Avenue West, Seattle, WA  98119
206.447-1900 office - 206.447.9075 fax - www. firstavenuelaw.com

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