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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">FWIW, I agree with what Spencer said.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#222A35">Mark B. Anderson<br>
</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#222A35">ANDERSON LAW FIRM PLLC<br>
821 Dock St Ste 209 PMB 4-12<br>
Tacoma, Washington 98402<br>
+1 253-327-1750<br>
+1 253-327-1751 (fax)<br>
<a href="mailto:marka@mbaesq.com">marka@mbaesq.com</a><br>
<a href="http://www.mbaesq.com/">www.mbaesq.com</a><b><o:p></o:p></b></span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-size:10.0pt;font-family:"Arial Narrow",sans-serif;color:#002060">CONFIDENTIALITY NOTICE<br>
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Stromberg, Spencer<br>
<b>Sent:</b> 04/20/2023 9:44 AM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Excise Tax<o:p></o:p></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt"><span style="font-size:12.0pt;font-family:"Arial",sans-serif">If the gift exemption is being used, the supplemental statement is required. If there is a significant difference between 1/2 the mortgage balance
and 1/2 the overall value of the property, I would recommend using the gift exemption for the difference, just to reduce the risk of a DOR audit of the REETA. Also, the amount of "consideration" may depend on who has been making the payments - there are several
options on the supplemental statement (e.g., if the grantee has been making 100% of the payments and will continue to do so, then there is no consideration in the eyes of DOR). <br>
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Another consideration is that if the gift exemption is used, the grantor may need to file a federal gift tax return. <o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt"><b><span style="font-family:"Arial",sans-serif;color:black">Spencer A. W. Stromberg</span></b><span style="color:black"><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt"><span style="font-family:"Arial",sans-serif;color:black">Attorney at Law</span><span style="color:black"><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt"><span style="font-family:"Arial",sans-serif;color:black">1403 S. Grand Blvd., Suite 201-S</span><span style="color:black"><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt"><span style="font-family:"Arial",sans-serif;color:black">Spokane, WA 99203-2278</span><span style="color:black"><o:p></o:p></span></p>
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P: 509.455.3713<br>
D: 509.828.4644<br>
F: +1.509.455.3718 (must dial 1 before area code)</span><span style="color:black"><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt"><span style="font-size:9.5pt;font-family:"Arial",sans-serif;color:black">E: </span><span style="font-family:"Arial",sans-serif;color:black"><a href="mailto:spencer@lucentlaw.com" target="_blank"><span style="font-size:9.5pt;color:#1155CC">spencer@lucentlaw.com</span></a></span><span style="color:black"><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt">On Wed, Apr 19, 2023 at 7:46 PM Meyler Legal, PLLC <<a href="mailto:samuel@meylerlegal.com">samuel@meylerlegal.com</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="margin-bottom:10.0pt">Mark,<o:p></o:p></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt">Piggybacking off of this, what if 50% of the balance of the mortgage plus cash that is being paid as consideration, is still less than 50% of the tax assessed value. Do you know if a supplement statement still
needs to be provided? <o:p></o:p></p>
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<p class="MsoNormal"><b>Samuel M. Meyler</b><o:p></o:p></p>
<p class="MsoNormal"><b>Meyler Legal, PLLC</b><o:p></o:p></p>
<p class="MsoNormal"><b>1700 Westlake Ave. N., Ste. 200</b><o:p></o:p></p>
<p class="MsoNormal"><b>Seattle, WA 98109</b><o:p></o:p></p>
<p class="MsoNormal"><b>Main: 206-876-7770</b><o:p></o:p></p>
<p class="MsoNormal"><b>Fax: 206-876-7771</b><o:p></o:p></p>
<p class="MsoNormal"><b>Direct: 206-876-7772</b><o:p></o:p></p>
<p class="MsoNormal"><b>Email: <a href="mailto:samuel@meylerlegal.com" target="_blank">
samuel@meylerlegal.com</a></b><o:p></o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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<p class="MsoNormal" style="margin-bottom:12.0pt">On Apr 19, 2023, at 6:00 PM, Mark Anderson <<a href="mailto:marka@mbaesq.com" target="_blank">marka@mbaesq.com</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal"> <o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#002060">How much is the one person agreeing to be paid by the other person for their interest in the property?
One half the balance of the mortgage? If that is the only consideration and if there is any equity in the property then, yes, the parties should execute and provide a Supplemental Statement reflecting the gift.</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;margin-bottom:12.0pt"><b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#222A35">Mark B. Anderson<br>
</span></b><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#222A35">ANDERSON LAW FIRM PLLC<br>
821 Dock St Ste 209 PMB 4-12<br>
Tacoma, Washington 98402<br>
+1 253-327-1750<br>
+1 253-327-1751 (fax)<br>
<a href="mailto:marka@mbaesq.com" target="_blank">marka@mbaesq.com</a><br>
<a href="http://www.mbaesq.com/" target="_blank">www.mbaesq.com</a></span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b>From:</b>
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com" target="_blank">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com" target="_blank">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Nestor Gorfinkel<br>
<b>Sent:</b> 04/18/2023 1:46 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com" target="_blank">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] Excise Tax<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Unmarried couple, bad breakup and one is taking out the other from title.<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">There will be a refinance and excise tax will be paid on ½ of the balance of mortgage. On REETA I just assumed we indicate partial sale and no other consideration. I was told that
there has to be a gift exemption supplement for any difference in ½ the appraised value. Is that the case?
<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Cordially,<o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"> <o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="color:black">Nestor Gorfinkel, Attorney at Law</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="color:black">Licensed in Florida & Washington State</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="color:black">Florida Civil-Law (International) Notary</span><o:p></o:p></p>
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