[WSBARP] Recording a Deed with Two Excise Tax Exemptions

Wed Oct 26 10:22:12 PDT 2022

Sorry Eric, no success stories.  I have tried, a couple of times, listing
two exemptions and was always rejected.

Jeff

W. Jeff Davis

BELL & DAVIS PLLC

Attorneys at Law
P.O. Box 510

720 E. Washington Street, Suite 105
Sequim WA 98382
Phone: (360) 683.1129 
Fax: (360) 683.1258 
email: jeff at bellanddavispllc.com <mailto:jeff at bellanddavispllc.com> 
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com

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From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com>
On Behalf Of Eric Nelsen
Sent: Wednesday, October 26, 2022 10:19 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Recording a Deed with Two Excise Tax Exemptions

My best advice is don't do it as one deed! In my experience the REETA is
rejected. They just don't want more than one exemption listed per deed.
Logically you are perfectly correct, but bureaucratically, listing two
exemptions is apparently a grave sin against Red Tape Requirements. Despite
the hassle and the additional recording fee I have found that it's
ultimately less expensive to use two deeds.

But I sure wish that wasn't the case and I would love to hear of any success
stories where somebody successfully used two exemptions for a single deed.

Sincerely,

Eric

Eric C. Nelsen

Sayre Law Offices, PLLC

1417 31st Ave South

Seattle WA 98144-3909

206-625-0092

eric at sayrelawoffices.com <mailto:eric at sayrelawoffices.com> 

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From: wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com>
<wsbarp-bounces at lists.wsbarppt.com
<mailto:wsbarp-bounces at lists.wsbarppt.com> > On Behalf Of Mark Anderson
Sent: Wednesday, October 26, 2022 9:58 AM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com
<mailto:wsbarp at lists.wsbarppt.com> >
Subject: [WSBARP] Recording a Deed with Two Excise Tax Exemptions

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)
 <mailto:marka at mbaesq.com> marka at mbaesq.com
 <http://www.mbaesq.com/> www.mbaesq.com

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