[WSBARP] REETA

[Randy Boyer]

Listmates

Parents want to add two children to title to the home property.  The children will start making payments on the existing loan and pay REET on the balance assumed.  

The wrinkle is that they want to get a HELOC loan after the gift within six month to improve the existing home.  They will not be paying off the existing loan at that time.  Will the HELOC cause DOR to claim it is like a refinance seeking additional REET is due, penalties and interest.

Randy
Randy M. Boyer                                                 ______
Attorney, WSBA# 8665
Law Office of Randy M. Boyer, Inc. P.S. 
7017 196th St. S.W.  Lynnwood, Washington 98036
( 425.712.3107|   Fax 425.778.2274
mail to: randyedlynlaw at gmail.com <mailto:randyedlynlaw at gmail.com>
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