[WSBARP] Recording a Deed with Two Excise Tax Exemptions

[Mark Anderson]

Dear All:

I have posed this question to the King County Recorder and am still waiting for an answer.  Because recording issues have been on your minds lately as a topic of discussion on this listserv, I thought I would run it by all of you.

A probate estate plans to make a distribution of a single piece of real property to the heirs.  I am aware that a distribution to the heirs as tenants-in-common would be exempt from excise tax as an inheritance under WAC 458-61A-202.

Instead of distributing the property to the heirs as individuals, however, the heirs have requested that the property ultimately be conveyed into an LLC owned by all of the heirs in the same proration as they would have otherwise taken as tenants-in-common.  I am aware that, so long as the owners have the same proportional interests in the property, conveyance from tenants-in-common into an LLC would be exempt from excise tax as a change in identity or form under WAC 458-618-211.

I am trying to do this as one transaction, i.e., one deed from the probate estate into the LLC.  How would you annotate the exemption(s) on the real estate excise tax affidavit?  Or should I just do this as two successive transactions?

Thanks in advance.

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/>
CONFIDENTIALITY NOTICE
This transmission is confidential and is intended solely for the use of the individual named recipient. It may be protected by the attorney-client privilege, work product doctrine, or other confidentiality protection. If you are not the intended recipient, or the person responsible to deliver it to the intended recipient, be advised that any dissemination, distribution, or copying of this communication is prohibited. If you have received this transmission in error, please immediately notify the sender via e-mail or by telephone at (253) 327-1750 that you have received the message in error, and then delete it. Thank you.

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20221026/dceeaf1c/attachment.html>