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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Calibri",sans-serif;color:blue">If the transfer is pursuant to a Court Decree of Dissolution or Settlement Agreement there is an exemption for that WAC 458-61A-203(a)<o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:0in"><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" style="margin-bottom:0in"><b><i><span style="font-size:18.0pt;font-family:"TypoUpright BT";color:blue">Jeanne J.</span></i></b><b><i><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue">
</span></i></b><b><i><span style="font-size:18.0pt;font-family:"TypoUpright BT";color:blue">Dawes</span></i></b><b><i><span style="font-size:18.0pt;font-family:"Bella Donna",serif;color:blue"><o:p></o:p></span></i></b></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="color:blue">Attorney at Law</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="color:blue">Gore & Grewe, P.S.</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="color:blue">103 E. Indiana Avenue, Suite A</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="color:blue">Spokane, WA 99207-2317</span><span style="font-size:12.0pt;font-family:"Times New Roman",serif;color:blue"><o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="color:blue">Voice: 509-326-7500</span><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" style="margin-bottom:0in"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"> wsbarp-bounces@lists.wsbarppt.com
<wsbarp-bounces@lists.wsbarppt.com> <b>On Behalf Of </b>Eric Nelsen<br>
<b>Sent:</b> Thursday, September 07, 2023 3:13 PM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Real Estate Excise Tax Question<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Relief from debt is part of the consideration. If they’re jointly liable, then him taking over the loan is consideration equal to half the mortgage balance.
See <a href="https://app.leg.wa.gov/WAC/default.aspx?cite=458-61A-103">WAC 458-61A-103</a>,
<a href="https://app.leg.wa.gov/WAC/default.aspx?cite=458-61A-102">WAC 458-61A-102(3)(b)</a>. So in your scenario, REET has to be paid on the cash transfer (half the equity) plus half the debt.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Re other stumbling blocks, there might be some, but this is how I’ve handled such situations before and I haven’t found a better way to do it. Just need to
factor in the cost of the transfer into settlement negotiations.<o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Sincerely,<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Eric<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p> </o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Eric C. Nelsen<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Sayre Law Offices, PLLC<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">1417 31st Ave South<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">Seattle WA 98144-3909<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">206-625-0092<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:0in"><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext"><a href="mailto:eric@sayrelawoffices.com">eric@sayrelawoffices.com</a><o:p></o:p></span></p>
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<p class="MsoNormal" style="margin-bottom:0in"><b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">From:</span></b><span style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:windowtext">
<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Mark Anderson<br>
<b>Sent:</b> Thursday, September 7, 2023 2:47 PM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] Real Estate Excise Tax Question<o:p></o:p></span></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="color:#002060">M and W, an unmarried couple, purchased a home in 2021. They both signed a promissory note and deed of trust. M and W are now breaking up and M wants to buy out W's interest in the property. M and W have agreed
that, in exchange for a quitclaim deed from W, M will fully assume the existing loan and pay half the equity in the property to W.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">For the purposes of the real estate excise tax, how is the gross selling price calculated?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">Do any of you know of any additional stumbling blocks in making this transaction work?<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#002060">Thanks.<o:p></o:p></span></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><b>Mark B. Anderson<br>
</b>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"><span style="color:blue">marka@mbaesq.com</span></a><br>
<a href="http://www.mbaesq.com/"><span style="color:blue">www.mbaesq.com</span></a><b><o:p></o:p></b></p>
<p class="MsoNormal" style="margin-bottom:12.0pt"><b><span style="font-family:"Arial Narrow",sans-serif;color:#002060">CONFIDENTIALITY NOTICE<br>
</span></b><span style="font-family:"Arial Narrow",sans-serif;color:#002060">This transmission is confidential and is intended solely for the use of the individual named recipient. It may be protected by the attorney-client privilege, work product doctrine,
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