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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal><span style='color:#1F497D'>See WAC 458-61A 201(4) (a) <o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>There is a rebuttable presumption that the transfer is a sale and not a gift if the grantee is involved in a refinance of debt on the property within six months of the time of the transfer.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>I don’t know whether there has been an decision construing “refinance”.<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal><span style='color:#1F497D'>John McCrady<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Counsel<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>Puget Sound Title Company<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>5350 Orchard Street West<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>University Place WA 98467<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>253-476-5721<o:p></o:p></span></p><p class=MsoNormal><span style='color:#1F497D'>j.mccrady@pstitle.com<o:p></o:p></span></p></div><p class=MsoNormal><span style='color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> wsbarp-bounces@lists.wsbarppt.com [mailto:wsbarp-bounces@lists.wsbarppt.com] <b>On Behalf Of </b>nestor@pplsweb.com<br><b>Sent:</b> Wednesday, May 09, 2018 10:33 AM<br><b>To:</b> 'WSBA Real Property Listserv' <wsbarp@lists.wsbarppt.com><br><b>Subject:</b> [WSBARP] Excise Tax on QCD<o:p></o:p></p></div></div><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Client has unencumbered property and wants to add brother as a gift and then and then refinance with brother as the main borrower. The way I see it Excise Tax not due on the transfer. Let me know if I am wrong. <o:p></o:p></p><p class=MsoNormal> <o:p></o:p></p><p class=MsoNormal>I would of course have the transfer done in advance of the refinance. <o:p></o:p></p><p class=MsoNormal> <o:p></o:p></p><p class=MsoNormal> <o:p></o:p></p><p class=MsoNormal><span style='color:black'>Nestor Gorfinkel, Attorney at Law </span><o:p></o:p></p><p class=MsoNormal><span style='color:black'>Licensed in Washington & Florida </span><o:p></o:p></p><p class=MsoNormal><span style='color:black'>Florida Civil-Law (International) Notary </span><o:p></o:p></p><p class=MsoNormal><b><span style='font-size:10.0pt;color:black'> </span></b><o:p></o:p></p><p class=MsoNormal><b><span style='font-size:24.0pt;font-family:Webdings;color:#009900'>P</span></b><b><span style='font-size:24.0pt;color:#009900'> </span></b><b><span style='font-size:9.0pt;font-family:"Verdana",sans-serif;color:#009900'>Please consider the environment before printing this e-mail.</span></b><span style='font-family:"Century Schoolbook",serif;color:black'> </span><o:p></o:p></p><p class=MsoNormal> <o:p></o:p></p><p class=MsoNormal> <o:p></o:p></p></div></body></html>