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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">The DOR’s position has not changed and there is no excise tax on the “Assignment Fee” paid to transfer the P and S agreement to new buyer as the transfer is not
an interest in real property but only the right to purchase it.<o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Dwight Bickel<br>
<b>Sent:</b> Thursday, December 19, 2019 1:04 PM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Excise on Assignments (458-61A-104) & Assignment of Sale Agreements By Only Licensed Brokers (RCW 18.85)?<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-family:"Calibri",sans-serif;color:black">I am quite interested to hear recent opinions and actions by the Department of Revenue regarding this frequently-used procedure. It was my opinion, the last time I researched it,
that the DOR agreed there was no real estate excise tax due from either party on the amount of the "boot," the amount paid by the assignee ultimate buyer to the assignor, the initial contract purchaser. The real estate excise tax was calculated based upon
the price paid to the real estate owner, the seller, and the deed is that seller to the assignee. Literally, there is no sale of real property from the assignor to the assignee. That sale is an assignment of an executory contract, not a sale of real property.
Has that DOR position changed? <o:p></o:p></span></p>
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<p class="MsoNormal">Dwight A. Bickel<o:p></o:p></p>
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<p class="MsoNormal">Washington Title Professional<o:p></o:p></p>
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<p class="MsoNormal"><a href="mailto:dwightbickel@hotmail.com">dwightbickel@hotmail.com</a><o:p></o:p></p>
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<p class="MsoNormal"><a href="http://www.linkedin.com/in/dwightbickel">www.linkedin.com/in/dwightbickel</a><o:p></o:p></p>
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<p class="MsoNormal">http:/www.titleadvisor.com<o:p></o:p></p>
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<p class="MsoNormal">206-484-1976 <o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:black">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>> on behalf of Doug Owens <<a href="mailto:dougowens@seattlerelawyer.com">dougowens@seattlerelawyer.com</a>><br>
<b>Sent:</b> Thursday, December 19, 2019 12:25 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> Re: [WSBARP] Excise on Assignments (458-61A-104) & Assignment of Sale Agreements By Only Licensed Brokers (RCW 18.85)?</span>
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<p class="MsoNormal">Bryce you raise an interesting point in the hypothetical situation in which the contract is somewhat illusory from the seller’s point of view. I have not seen any contracts with such an escape clause. I agree under such facts the DOL
might have a case. Yours truly, Doug Owens<o:p></o:p></p>
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<p class="MsoNormal">On Dec 19, 2019, at 11:59 AM, Bryce Dille <<a href="mailto:Bryce@dillelaw.com">Bryce@dillelaw.com</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1F497D">I think DOL might have a case as to someone who was in the business of tying up multiple properties and never intending to close but only to market his buyers
interest and get assignment fee and if person couldn’t find a buyer for buyer’s interest had the right to terminate the deal at no cost to the person.</span><o:p></o:p></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif">From:</span></b><span class="xapple-converted-space"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"> </span></span><span style="font-size:11.0pt;font-family:"Calibri",sans-serif"><a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>
<<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>><span class="xapple-converted-space"> </span><b>On Behalf Of<span class="xapple-converted-space"> </span></b>Doug Owens<br>
<b>Sent:</b><span class="xapple-converted-space"> </span>Thursday, December 19, 2019 11:31 AM<br>
<b>To:</b><span class="xapple-converted-space"> </span>WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b><span class="xapple-converted-space"> </span>Re: [WSBARP] Excise on Assignments (458-61A-104) & Assignment of Sale Agreements By Only Licensed Brokers (RCW 18.85)?</span><o:p></o:p></p>
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<p class="MsoNormal">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<o:p></o:p></p>
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<p class="MsoNormal">On Dec 19, 2019, at 10:46 AM, Rowley, Rob <<a href="mailto:rob@rowleylegal.com"><span style="color:purple">rob@rowleylegal.com</span></a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Tahoma",sans-serif">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.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Tahoma",sans-serif">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.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Tahoma",sans-serif">Wanting to know what is going on statewide (if any) on these issues.</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Tahoma",sans-serif">Thank you and Merry Christmas.</span><o:p></o:p></p>
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<p class="MsoNormal"><i><span style="font-family:"Arial",sans-serif;color:#333333">Attorney & Counselor At Law</span></i><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:#333333">509.252.5074 </span><span style="font-family:"Arial",sans-serif;color:#F7751F">m: </span><span style="font-family:"Arial",sans-serif;color:#333333">509.994.1143</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:#333333">509.928.3084</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:#333333">7 S Howard St, Ste 218, Spokane, WA 99201</span><o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:11.5pt;font-family:"Arial",sans-serif;color:#010004">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
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<a href="https://nam02.safelinks.protection.outlook.com/?url=http%3A%2F%2Fmailman.fsr.com%2Fmailman%2Flistinfo%2Fwsbarp&data=02%7C01%7C%7C8535ef9b01f6454e299808d784c2ae91%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C637123844000874973&sdata=Svpw5hTn3X3n2RqtAFaDfkjDur9kxFSlDxT0DD0joV0%3D&reserved=0">http://mailman.fsr.com/mailman/listinfo/wsbarp</a></span><o:p></o:p></p>
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