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<p class="MsoNormal"><span style="font-size:12.0pt;color:blue">Jan, that would work, but it is a lot of deed recording (expensive). Your clients could deed 100% interest to the LLC, and then gift a 5% interest in the LLC to their daughter.<o:p></o:p></span></p>
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<p class="MsoNormal"><i><span style="font-size:18.0pt;font-family:"TypoUpright BT";color:blue">Jeanne</span></i><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue">
<o:p></o:p></span></p>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <b>On Behalf Of
</b>Jan Kelly<br>
<b>Sent:</b> Thursday, April 14, 2022 11:19 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Property Conveyance Question<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Clients own real property located in Snohomish County in a Nevada revocable trust. They want to convey it to their LLC. Trustors have 95% membership interest in the LLC, and their daughter has 5% membership interest.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Am I making things too complicated by the following transactions? Of course they want to avoid excise tax payments, as well as issues later with title.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">1. Trustors convey property to themselves as individuals.<o:p></o:p></p>
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<p class="MsoNormal">2. Trustors convey property to themselves and their daughter in the same shares as represented in the Operating Agreement, gifting their daughter 5%.<o:p></o:p></p>
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<p class="MsoNormal">3. Then from the 3 of them to the LLC.<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal">Thank you in advance.<br>
-- <o:p></o:p></p>
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<p><i><span style="font-family:"Verdana",sans-serif;color:black">Jan Kelly, JD/MBA<br>
</span></i><span style="font-family:"Verdana",sans-serif;color:black">Attorney at Law
</span><o:p></o:p></p>
<p style="margin-bottom:12.0pt"><span style="font-family:"Verdana",sans-serif;color:black">J</span>K Law<br>
PO Box 1964<br>
Poulsbo, WA 98370<br>
Direct Line (702) 338-6733<o:p></o:p></p>
<p><i><span style="font-family:"Verdana",sans-serif;color:black">Licensed in Nevada and Washington</span></i><span style="font-family:"Verdana",sans-serif;color:black">.</span><o:p></o:p></p>
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