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<div dir="ltr">Nick:</div>
<div dir="ltr">Be careful you do not involve yourself in perpetrating a fraud. “Muddying the waters” so as to avoid wife’s interest is perhaps just another phrase for the same thing-fraud. Did he use community funds for the down payment? Did he use community
earnings for the mortgage payments? This type of transaction all too often rears its head during divorce. </div>
<div dir="ltr">Be careful you are not a participant.</div>
<div dir="ltr">Yours truly,</div>
<div dir="ltr">Kerry A. Richards </div>
<div dir="ltr"><br>
<blockquote type="cite">On Aug 31, 2021, at 4:03 PM, Nicholas Pleasants <nick@pleasantslaw.com> wrote:<br>
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<p class="MsoNormal"><span style="font-size:11.0pt">Hi All,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Looking for a suggestion on how to structure a potential transaction. Parents want to transfer home to Son. The home equitably belongs to Son – he has paid the mortgage (and probably also the downpayment)
since it was acquired from a third party years ago. At the time home was purchased by Parents, Son was going through a divorce, and to avoid muddying up the title with soon-to-be-ex-wife’s potential interest, Son asked Parents to purchase the home and take
out mortgage for him (I know, a bit weird). I think the mortgage does not need to be refinanced because of Garn St. Germain. So my main concern is how to structure the transaction to be exempt from excise tax. Can parents quitclaim to son? What WAC would
apply? Thanks for any input or steerage in the right direction.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Best, <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Nick<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><b><span style="font-size:11.0pt;color:#2B6AA4">Nicholas Pleasants<o:p></o:p></span></b></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#2B6AA4">Owner<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#2B6AA4"><o:p> </o:p></span></p>
<p class="MsoNormal"><a href="http://www.pleasantslaw.com/"><b><span style="font-size:11.0pt;color:#2B6AA4;text-decoration:none"></p>
<div><image001.png></div>
</span></b></a><b><span style="font-size:11.0pt;color:#2B6AA4"><o:p></o:p></span></b>
<p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:black"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:black">Pleasants Law Firm, P.S.<br>
2300 130th Ave NE, Suite A-101<br>
Bellevue, WA 98005-1755<br>
(425) 615-7070 tel/fax<br>
</span><span style="font-size:11.0pt;color:#2E75B6"><a href="mailto:nick@pleasantslaw.com"><span style="color:#2E75B6">nick@pleasantslaw.com</span></a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;color:#2E75B6"><a href="http://www.pleasantslaw.com"><span style="color:#2E75B6">www.pleasantslaw.com</span></a>
<o:p></o:p></span></p>
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