<html><body><span style="font-family:Times New Roman; color:#000000; font-size:12pt;"><div>Please post to list</div><div><br></div><div><img id="sigimg0" title="signature image" src="cid:sigimg0@14cbdf790a29ccdf2f4b30d515f2a48a" border="0" alt=""></div><div><br><br></div>
<blockquote id="replyBlockquote" webmail="1" style="border-left: 2px solid blue; margin-left: 8px; padding-left: 8px; font-size:10pt; color:black; font-family:verdana;">
<div id="wmQuoteWrapper">
-------- Original Message --------<br>
Subject: [WSBARP] Nominees; WAC 458-61A-214; Flyhomes<br>
From: "Samuel M. Meyler" <<a href="mailto:samuel@meylerlegal.com">samuel@meylerlegal.com</a>><br>
Date: Tue, March 09, 2021 4:25 pm<br>
To: "'WSBA Real Property Listserv'" <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<br>
<style>
#wmQuoteWrapper /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4;}
#wmQuoteWrapper @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;}
#wmQuoteWrapper /* Style Definitions */ p.MsoNormal, #wmQuoteWrapper li.MsoNormal, #wmQuoteWrapper div.MsoNormal {margin:0in; font-size:11.0pt; font-family:"Calibri",sans-serif;}
#wmQuoteWrapper span.EmailStyle17 {mso-style-type:personal-compose; font-family:"Calibri",sans-serif; color:windowtext;}
#wmQuoteWrapper .MsoChpDefault {mso-style-type:export-only; font-family:"Calibri",sans-serif;}
#wmQuoteWrapper @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;}
#wmQuoteWrapper div.WordSection1 {page:WordSection1;}
</style><div class="WordSection1"><div class="MsoNormal" style="font-size:12pt;">Listmates,<o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p> </o:p></div><div class="MsoNormal" style="font-size:12pt;">WAC 458-61A-214 provides an excise tax exemption for the subsequent transfer of property by a “nominee” to a third-party (the intended buyer). My understanding is that FlyHomes uses this exemption to purchase properties for cash on behalf of its clients and subsequently sell the property to the client, without having to pay excise tax on the subsequent transfer.<o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p> </o:p></div><div class="MsoNormal" style="font-size:12pt;">For those who are unfamiliar, FlyHomes is a real estate firm with a lending arm that allows its buyer-clients to present an “all cash offer” by purchasing the home for the client for all cash and then selling it to the client, allowing the client to essentially present an extremely competitive, all-cash offer. This is not a promo for FlyHome’s services… I just find it to be an interesting model and I am researching it.<o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p> </o:p></div><div class="MsoNormal" style="font-size:12pt;">Is anyone familiar with this type of transaction and how to document it? I know that the WAC provides examples and “explains” what documentation is necessary, but I am wondering if someone may have actually prepared materials documenting a transaction involving a nominee that have been accepted when recording and if you would be able to share those materials for review. TIA<o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p> </o:p></div><div class="MsoNormal" style="font-size:12pt;">Sam <o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p> </o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p> </o:p></div><div class="MsoNormal" style="font-size:12pt;"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"><o:p> </o:p></span></b></div><div class="MsoNormal" style="font-size:12pt;"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Samuel M. Meyler</span></b><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Meyler Legal, PLLC </span></b><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">1700 Westlake Ave. N., Ste. 200<o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Seattle, Washington 98109</span><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Tel:</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> 206.876.7770<o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Fax:</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> 206.876.7771<o:p></o:p></span></div><div class="MsoNormal" style="font-size:12pt;"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Email:</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> </span><a target="_blank" href="mailto:samuel@meylerlegal.com"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">samuel@meylerlegal.com</span></a><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> </span><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">NOTICE:</span></b><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:blue"> </span><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><span style="font-size:8.0pt;font-family:"Arial",sans-serif;color:blue">This electronic message contains information which may be Confidential or Privileged and constitutes an electronic communication within the meaning of the Electronic Communications Privacy Act 18 USC 2510. The information is intended to be for the use of the individual or entity named above. If you are not the intended recipient, please be aware that any disclosure, copying, distribution or use of the contents of this information is prohibited. If you received this transmission in error, please notify the sender and delete the copy you received together with any attachments. Thank you.</span><o:p></o:p></div><div class="MsoNormal" style="font-size:12pt;"><o:p> </o:p></div></div><hr>***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***<br>
<br>
_______________________________________________<br>
WSBARP mailing list<br>
<a href="mailto:WSBARP@lists.wsbarppt.com">WSBARP@lists.wsbarppt.com</a><br>
<a href="http://mailman.fsr.com/mailman/listinfo/wsbarp">http://mailman.fsr.com/mailman/listinfo/wsbarp</a>
</div>
</blockquote></span></body></html>