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<p>Maybe I need to go back and look at some recent transactions, but
my understanding was that relocation companies paid the excise tax
twice on relocation listings. If there ever were a transaction
that was a nominee situation, that would be it in at least some
Relocation situations (the ones where they DON'T pay off the
relocation client early). It's been many years though since I've
looked at that issue on relocations.<br>
</p>
<pre class="moz-signature" cols="72">Kary L. Krismer
206 723-2148</pre>
<div class="moz-cite-prefix">On 3/9/2021 4:25 PM, Samuel M. Meyler
wrote:<br>
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<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
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