[WSBARP] Title Issue

[Mark Anderson]

Dear Brain Trust:
Robert died in 2006.  At the time of his death, Robert had a Trust into which he had conveyed a piece of real property (the "Property").  Robert's son, Steve, was the Successor Trustee of the Trust.  Robert also had a Will in which he nominated Steve as the Personal Representative of his Estate.  The Estate was never probated because all of Robert's assets were now owned by the Trust.
In late 2006, Steve executed and recorded a Statutory Warranty Deed, purporting to convey all right, title, and interest in the Property to Teresa.  Unfortunately, the Deed identified the Grantor as "Steve, as Personal Representative for the Estate of Robert."  The correct Grantor should have been "Steve, as Trustee of the Trust."  Teresa paid Steve a modest amount, and excise tax was paid on the transaction.
Steve is still living and is willing to cooperate to correct this title situation.  I know I could simply have Steve execute and record a Quitclaim Deed from the Trust to Teresa.  But what is the amount of the consideration to plug into the REETA?  The Trust would be getting nothing in exchange for title.  Teresa already paid for the property.  Would this really be a gift?  Or how would you treat it?
Thanks much.
Mark B. Anderson
ANDERSON LAW FIRM PLLC
821 Dock Street, Suite 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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