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<p>Just because the treasurer allows it doesn't mean it works. I
had one that DOR notified us 2 years later that they had
problems. Have to do all the details. <br>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Very Truly Yours,</p>
<p class="MsoNormal">Robert R. Cole</p>
<p class="MsoNormal">Law Office of Cole & Gilday, P.C. </p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">10101 - 270th St. NW </p>
<p class="MsoNormal">Stanwood, WA 98292 </p>
<p class="MsoNormal">(360) 629-2900 (Telephone) </p>
<p class="MsoNormal">(360) 629-0220 (Fax) </p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<div class="moz-cite-prefix">On 3/9/2021 5:05 PM, Samuel M. Meyler
wrote:<br>
</div>
<blockquote type="cite"
cite="mid:!&!AAAAAAAAAAAuAAAAAAAAACbHoCsc1ItKmJ4fEYgZbykBAMO2jhD3dRHOtM0AqgC7tuYAAAAAAA4AABAAAABMUHarR4NFQIJRQWOQ9gi8AQAAAAA=@meylerlegal.com">
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<p class="MsoNormal">Thanks, Marc. Yes, I have done that and
seen what they attach to their REETAs. I am looking for some
other examples as well. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">They have definitely come a long way in a
short period of time. They have a good amount of investment
to back them up. It’s a very interesting model. <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Samuel
M. Meyler</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Meyler
Legal, PLLC </span></b><o:p></o:p></p>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">1700
Westlake Ave. N., Ste. 200<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Seattle,
Washington 98109</span><o:p></o:p></p>
<p class="MsoNormal"><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></p>
<p class="MsoNormal"><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></p>
<p class="MsoNormal"><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
href="mailto:samuel@meylerlegal.com"
moz-do-not-send="true"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">samuel@meylerlegal.com</span></a><o:p></o:p></p>
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style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">NOTICE:</span></b><o:p></o:p></p>
<p class="MsoNormal"><span
style="font-size:8.0pt;font-family:"Arial",sans-serif;color:blue"> </span><o:p></o:p></p>
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Communications Privacy Act 18 USC 2510. The information is
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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></p>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<div>
<div style="border:none;border-top:solid #E1E1E1
1.0pt;padding:3.0pt 0in 0in 0in">
<p class="MsoNormal"><b>From:</b>
<a class="moz-txt-link-abbreviated" href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>
<a class="moz-txt-link-rfc2396E" href="mailto:wsbarp-bounces@lists.wsbarppt.com"><wsbarp-bounces@lists.wsbarppt.com></a> <b>On Behalf Of
</b>marc holmeslawgroup.com<br>
<b>Sent:</b> Tuesday, March 9, 2021 4:51 PM<br>
<b>To:</b> WSBA Real Property Listserv
<a class="moz-txt-link-rfc2396E" href="mailto:wsbarp@lists.wsbarppt.com"><wsbarp@lists.wsbarppt.com></a><br>
<b>Subject:</b> Re: [WSBARP] Nominees; WAC 458-61A-214;
Flyhomes<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif">I am familiar with FlyHomes and have been
very impressed with how far they’ve come since I first met
the founders when they were just getting started. <o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif">You can probably find a home they’ve sold
in King County on their website and then search the county
recorder’s website for the excise affidavits filed in that
transaction.<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif"><o:p> </o:p></span></p>
<div>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif">Marc Holmes, JD<br>
Holmes Law Group PLLC<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif">2303 W. Commodore Way, Suite 306<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif">Seattle, WA 98199<br>
</span><a href="mailto:marc@holmeslawgroup.com"
moz-do-not-send="true"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif;color:blue">marc@holmeslawgroup.com</span></a><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif"><br>
(206) 357-4224 (ofc)<br>
(206) 849-0853 (cell)<o:p></o:p></span></p>
</div>
<p class="MsoNormal"><span
style="font-size:12.0pt;font-family:"Times New
Roman",serif"><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> <a
href="mailto:wsbarp-bounces@lists.wsbarppt.com"
moz-do-not-send="true">wsbarp-bounces@lists.wsbarppt.com</a>
<<a href="mailto:wsbarp-bounces@lists.wsbarppt.com"
moz-do-not-send="true">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Samuel M. Meyler<br>
<b>Sent:</b> Tuesday, March 9, 2021 6:26 PM<br>
<b>To:</b> 'WSBA Real Property Listserv' <<a
href="mailto:wsbarp@lists.wsbarppt.com"
moz-do-not-send="true">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] Nominees; WAC 458-61A-214;
Flyhomes<o:p></o:p></p>
</div>
</div>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Listmates,<o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">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></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal">Sam <o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"><o:p> </o:p></span></b></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Samuel
M. Meyler</span></b><o:p></o:p></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Meyler
Legal, PLLC </span></b><o:p></o:p></p>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">1700
Westlake Ave. N., Ste. 200<o:p></o:p></span></p>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">Seattle,
Washington 98109</span><o:p></o:p></p>
<p class="MsoNormal"><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></p>
<p class="MsoNormal"><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></p>
<p class="MsoNormal"><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
href="mailto:samuel@meylerlegal.com" moz-do-not-send="true"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">samuel@meylerlegal.com</span></a><o:p></o:p></p>
<p class="MsoNormal"><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue"> </span><o:p></o:p></p>
<p class="MsoNormal"><b><span
style="font-size:10.0pt;font-family:"Arial",sans-serif;color:blue">NOTICE:</span></b><o:p></o:p></p>
<p class="MsoNormal"><span
style="font-size:8.0pt;font-family:"Arial",sans-serif;color:blue"> </span><o:p></o:p></p>
<p class="MsoNormal"><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></p>
<p class="MsoNormal"><o:p> </o:p></p>
</div>
<br>
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<pre class="moz-quote-pre" wrap="">***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.***
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