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<DIV>Thanks Jeanne</DIV>
<DIV> </DIV>
<DIV>The balance owing will be paid by the grantee, and the grantor will not pay
any of it. Conor is getting debt relief (the seller is consenting to the
assignment) So do you recite the balance owing on the purchaser’s
assignment of contract and deed? or do you just put it on the 1% affid.?</DIV>
<DIV> </DIV>
<DIV>Josh</DIV>
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<DIV> </DIV>
<DIV style="BACKGROUND: #f5f5f5">
<DIV style="font-color: black"><B>From:</B> <A title=jjdawes@goregrewe.com
href="mailto:jjdawes@goregrewe.com">Jeanne Dawes</A> </DIV>
<DIV><B>Sent:</B> Thursday, November 12, 2015 3:53 PM</DIV>
<DIV><B>To:</B> <A title=wsbarp@lists.wsbarppt.com
href="mailto:wsbarp@lists.wsbarppt.com">WSBA Real Property Listserv</A> </DIV>
<DIV><B>Subject:</B> Re: [WSBARP] Purchaser's assignment of contract and 1%
tax</DIV></DIV></DIV>
<DIV> </DIV></DIV>
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style='FONT-SIZE: small; TEXT-DECORATION: none; FONT-FAMILY: "Calibri"; FONT-WEIGHT: normal; COLOR: #000000; FONT-STYLE: normal; DISPLAY: inline'>
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<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: blue'>Josh,<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: blue'><o:p></o:p></SPAN> </P>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: blue'>You pay the excise tax
on the purchase price, whatever that is. If it is a gift, it will be
exempt, except if the donor is receiving debt relief, the excise tax will be on
the balance of the debt amount (i.e. contract balance). If the donor will
continue to pay on the underlying debt, no excise tax.
<o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: blue'><o:p></o:p></SPAN> </P>
<DIV>
<P class=MsoNormal><I><SPAN
style='FONT-SIZE: 18pt; FONT-FAMILY: "TypoUpright BT"; COLOR: blue'>Jeanne</SPAN></I><SPAN
style="COLOR: blue"> <o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN style="COLOR: blue"><o:p></o:p></SPAN> </P>
<P class=MsoNormal><B><I><SPAN
style='FONT-SIZE: 18pt; FONT-FAMILY: "TypoUpright BT"; COLOR: blue'>Jeanne
J.</SPAN></I></B><B><I><SPAN style="COLOR: blue"> </SPAN></I></B><B><I><SPAN
style='FONT-SIZE: 18pt; FONT-FAMILY: "Bella Donna"; COLOR: blue'>Dawes<o:p></o:p></SPAN></I></B></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'>Attorney
at Law</SPAN><SPAN style="COLOR: blue"><o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'>Gore
& Grewe, P.S.</SPAN><SPAN style="COLOR: blue"><o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'>103 E.
Indiana Avenue, Suite A</SPAN><SPAN style="COLOR: blue"><o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'>Spokane,
WA 99207-2317</SPAN><SPAN style="COLOR: blue"><o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'>Voice:
509-326-7500</SPAN><SPAN style="COLOR: blue"><o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'>Fax:
509-326-7503</SPAN><SPAN style="COLOR: blue"><o:p></o:p></SPAN></P>
<P class=MsoNormal><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'><A
href="mailto:jjdawes@goregrewe.com"><SPAN
style="COLOR: blue">jjdawes@goregrewe.com</SPAN></A></SPAN><SPAN
style="COLOR: blue"><o:p></o:p></SPAN></P>
<P class=MsoNormal
style="mso-margin-top-alt: auto; mso-margin-bottom-alt: auto"><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'>INFORMATION
CONTAINED IN THIS E-MAIL TRANSMISSION IS PRIVILEGED AND CONFIDENTIAL.
</SPAN><SPAN style="COLOR: blue"></SPAN><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Arial","sans-serif"; COLOR: blue'><o:p></o:p></SPAN></P></DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: blue'><o:p></o:p></SPAN> </P>
<DIV>
<DIV
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<P class=MsoNormal><B><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma","sans-serif"'>From:</SPAN></B><SPAN
style='FONT-SIZE: 10pt; FONT-FAMILY: "Tahoma","sans-serif"'>
wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com]
<B>On Behalf Of </B>Josh Grant<BR><B>Sent:</B> Thursday, November 12, 2015 3:38
PM<BR><B>To:</B> wsbar<BR><B>Subject:</B> [WSBARP] Purchaser's assignment of
contract and 1% tax<o:p></o:p></SPAN></P></DIV></DIV>
<P class=MsoNormal><o:p></o:p> </P>
<DIV>
<DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: black'>It looks to me in
reading WAC 458-61A-104(1)(b)<o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: black'>That when my client
signs and records a Purchaser’s assignment of contract and deed, that in order
to record the deed he has to pay 1.53% excise tax on the balance owing on the
contract.<o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: black'>If so do you recite
the balance owing on the contract on the deed? The LPO forms seem to have
it backward because they have us recite the amount owing on the contract on
a<EM><SPAN style='FONT-FAMILY: "Calibri","sans-serif"'> Seller’s</SPAN></EM>
assignment of contract and deed form, but not on a <EM><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"'>purchaser’s</SPAN></EM> assignment
and deed; however the above WAC says that it is only payable on a purchaser’s
assignment.???<o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: black'> <o:p></o:p></SPAN></P></DIV>
<DIV>
<P class=MsoNormal><SPAN
style='FONT-FAMILY: "Calibri","sans-serif"; COLOR: black'>Josh<o:p></o:p></SPAN></P></DIV></DIV></DIV></DIV>
<P>
<HR>
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