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<div class="" style="word-wrap:break-word; line-break:after-white-space">Dear Rob, about nine years ago the DOL put out “guidance” on this point and it has been of concern to real estate investors since then. I disagree with the department because a licensed
broker is not a party to the underlying transaction but the buyer who assigns his or her contract to someone else is. This is the guidance that the DOL put out which I understand will not go to the listserv. Yours truly, Doug Owens<br class="">
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<div class="">On Dec 19, 2019, at 10:46 AM, Rowley, Rob <<a href="mailto:rob@rowleylegal.com" class="">rob@rowleylegal.com</a>> wrote:</div>
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Any experience with DOR or DOL taking the position that real estate investors who assign purchase contracts must be licensed real estate brokers (RCW 18.85)? I have seen a recent inquiry by DOL of one of my real estate investor clients. Clients who are in
the business of getting property under contract and then assigning the buyer's interest for consideration that is typically only paid at the time of closing on the settlement statement. One of the complaints was by a disgruntled local licensed real estate
broker who is a competitor.</div>
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Also, it has always been my understanding that under WAC 458-61A-104 as to the assignment consideration the seller does not pay excise but the purchaser does pay.</div>
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Wanting to know what is going on statewide (if any) on these issues.<br class="">
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Thank you and Merry Christmas.</div>
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Robert R. Rowley</td>
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<i class="">Attorney & Counselor At Law</i></td>
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p:</td>
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509.252.5074 <span class="" style="color:rgb(247,117,31)">m: </span>509.994.1143</td>
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f:</td>
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509.928.3084</td>
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a:</td>
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7 S Howard St, Ste 218, Spokane, WA 99201</td>
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w:</td>
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<a href="http://rowleylegal.com/" target="_blank" class="" style="color:rgb(29,161,219); text-decoration:none; font-size:16px">rowleylegal.com</a> <span class="" style="color:rgb(247,117,31)">e: </span><a href="mailto:rob@rowleylegal.com" target="_blank" class="" style="color:rgb(29,161,219); text-decoration:none; font-size:16px">rob@rowleylegal.com</a></td>
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<td colspan="2" class="" style="padding-top:5px"><a href="https://www.facebook.com/rowleylegal?" target="_blank" class="" style="color:rgb(29,161,219); text-decoration:none; border:0px"><img width="25" height="25" src="http://cdn2.hubspot.net/hubfs/184235/dev_images/signature_app/facebook_sig.png" class="" style="border:none; max-width:25px!important; width:25px; height:25px; max-height:25px!important"></a> <a href="https://twitter.com/ROBERTRROWLEY" target="_blank" class="" style="color:rgb(29,161,219); text-decoration:none; border:0px"><img width="25" height="25" src="http://cdn2.hubspot.net/hubfs/184235/dev_images/signature_app/twitter_sig.png" class="" style="border:none; max-width:25px!important; width:25px; height:25px; max-height:25px!important"></a> <a href="https://www.linkedin.com/in/rob-rowley-b2017211/" target="_blank" class="" style="color:rgb(29,161,219); text-decoration:none; border:0px"><img width="25" height="25" src="http://cdn2.hubspot.net/hubfs/184235/dev_images/signature_app/linkedin_sig.png" class="" style="border:none; max-width:25px!important; width:25px; height:25px; max-height:25px!important"></a></td>
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Practice concentrated on business, real estate and general legal matters in Washington and Idaho. NOTICE: The contents of this message and any attachments may be protected by the attorney-client privilege, work product doctrine or other applicable protections.
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