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<div dir="auto">I am strongly inclined in these cases to use two deeds. The REET exemption issues cause too many problems. I have never had success putting two exemptions on one form.<br>
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<div>Eric Nelsen<br>
Sayre Law Offices PLLC<br>
206-625-0092</div>
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<div class="gmail_quote">On Dec 9, 2021 5:52 PM, Inge Fordham <inge@fordhamlegal.com> wrote:<br type="attribution">
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<p class="MsoNormal">Colleagues,</p>
<p class="MsoNormal"> </p>
<p class="MsoNormal">A client is refinancing a property that is presently titled in the name of a corporation the client owns (100%). The client seeks to quit claim a property from the corporation to himself and his spouse. However, I’m not sure this can
be done in a single transaction without triggering excise tax on the 50% beneficial interest being transferred to the spouse. I realize that we can claim exemptions on the transfer from the corporation to the client (a mere change in identity) and then from
the client to the client and his spouse (for purposes of creating community property). I’m trying to save him the cost of preparing and recording two separate quit claim deeds. Is there any way to accomplish this in one exempt transaction? (I’m also concerned
that the auditor’s office will get testy if we claim two separate exemptions).</p>
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<p class="MsoNormal">Thank you in advance,</p>
<p class="MsoNormal"> </p>
<p class="MsoNormal"> </p>
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<p class="MsoNormal" style="margin-bottom:3.0pt"><b><span style="font-size:13.0pt; font-family:"Cambria",serif; color:#203864">Inge A. Fordham | Attorney</span></b><span style="font-size:12.0pt"></span></p>
<p class="MsoNormal" style="margin-bottom:3.0pt"><span style="font-size:12.0pt; font-family:"Cambria",serif; color:black">Fordham Law, PLLC</span><span style="font-size:12.0pt"></span></p>
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