[WSBARP] Real Estate Excise Tax Question

[Mark Anderson]

M and W, an unmarried couple, purchased a home in 2021.  They both signed a promissory note and deed of trust.  M and W are now breaking up and M wants to buy out W's interest in the property.  M and W have agreed that, in exchange for a quitclaim deed from W, M will fully assume the existing loan and pay half the equity in the property to W.
For the purposes of the real estate excise tax, how is the gross selling price calculated?
Do any of you know of any additional stumbling blocks in making this transaction work?
Thanks.
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/>
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