[WSBARP] WAC Exemption

[Eric Nelsen]

I think it has to be -204, specifically -204(2). They are actually changing ownership, so "mere change in form" under -211 would not apply. And, while technically they each are "exiting" title, they are doing so by transferring valuable interest to the other, which would be consideration and takes it out of the exemption under -215.

It is only when looking at the whole set of deeds that breaks up their common ownership into each separate ownership of one parcel each plus jointly owning a third parcel, that the transfers in value collectively are explainable as a partition and exempt for that reason. It will be important to attach some kind of narrative explaining that they each are receiving property of value equal to their total interest in original unified parcel, such that no consideration is passing.

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>

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Jeff at bellanddavispllc.com
Sent: Friday, April 12, 2024 11:02 AM
To: 'WSBA Real Property Listserv' <wsbarp at lists.wsbarppt.com>
Subject: [WSBARP] WAC Exemption

LIstmates:

Two brothers own a parcel as tenants in common.  They subdivide it into three lots.  Each will take one lot as their separate property and hold the third as JTWROS.  No debt on the property.  I assume WAC 458-61A-204 in the correct exemption, but knowing the lay "lawyers" at the treasurer's office, would WAC 458-61A-211 (mere change in form) or 215 (clearing or exiting title) be used?  Your thoughts.

Jeff Davis


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>
www.bellanddavispllc.com<http://www.bellanddavispllc.com/>

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