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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Aptos",sans-serif">Yes the LLC is the grantee. This is exempt from excise tax as long as there is no change in beneficial ownership (i.e. if ownership before was 50/50 as H&W, then ownership in
LLC must also be 50/50). Note however that <a href="https://www.law.cornell.edu/uscode/text/12/1701j-3">
12 U.S. Code § 1701j-3 </a>does not provide preemption of due on sale clauses for a transfer into an LLC, so if they have any loans currently secured by the property where the loan documents contain due on sale provisions, they might want to ask the lender’s
consent to the transfer first. Lenders routinely grant consent in these situations, sometimes requiring some nominal fee to update the loan documents.
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<p class="MsoNormal"><span style="font-size:11.0pt;font-family:"Aptos",sans-serif"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Aptos",sans-serif">Paul S. Drayna</span></b><span style="font-size:10.0pt;font-family:"Aptos",sans-serif"> |
<b><span style="color:#4472C4">Helsell Fetterman LLP</span><span style="color:#2F5496"><o:p></o:p></span></b></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Aptos",sans-serif">Attorney | Of Counsel<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Aptos",sans-serif">800 Fifth Avenue, Suite 3200<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Aptos",sans-serif">Seattle, WA 98104<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Aptos",sans-serif">Direct: 206.689.2177<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Aptos",sans-serif"><a href="mailto:pdrayna@helsell.com">pdrayna@helsell.com</a><o:p></o:p></span></p>
<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Aptos",sans-serif">he/him pronouns<o:p></o:p></span></i></p>
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<p class="MsoNormal"><i><span style="font-size:10.0pt;font-family:"Aptos",sans-serif;color:black">This e-mail may contain confidential information which is legally privileged. The information is solely for the use of the addressee(s) named above. If you are
not the intended recipient, please notify us by return e-mail and delete this message. Thank you.</span></i><span style="font-size:10.0pt;color:black"><o:p></o:p></span></p>
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<p class="MsoNormal"><b><span style="font-size:11.0pt;mso-ligatures:none">From:</span></b><span style="font-size:11.0pt;mso-ligatures:none"> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>Jeff@bellanddavispllc.com<br>
<b>Sent:</b> Thursday, April 10, 2025 11:52 AM<br>
<b>To:</b> 'WSBA Real Property Listserv' <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> [WSBARP] Transferring Property to Family Corporation<o:p></o:p></span></p>
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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;mso-ligatures:none">The e-mail message that is shown below had a DKIM signature which failed to be validated. This could indicate the message is spoofed.
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<p class="MsoNormal"><b><span style="font-family:"Aptos",sans-serif;color:red;mso-ligatures:none">[EXTERNAL MESSAGE]</span></b><span style="font-family:"Aptos",sans-serif;mso-ligatures:none"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">H & W plan to transfer their home into an LLC they just formed. Do I just name the LLC as Grantee? If it was a trust I would name H & W as Trustee for the H & W Living Trust dated _____.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:11.0pt">Jeff Davis<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;font-family:"Tahoma",sans-serif;mso-ligatures:none">W. Jeff Davis<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black;mso-ligatures:none">BELL & DAVIS PLLC<o:p></o:p></span></b></p>
<p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black;mso-ligatures:none">Attorneys at Law</span></b><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black;mso-ligatures:none"><br>
P.O. Box 510<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black;mso-ligatures:none">720 E. Washington Street, Suite 105<br>
Sequim WA 98382<br>
Phone: (360) 683.1129 <br>
Fax: (360) 683.1258 <br>
email: </span><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;mso-ligatures:none"><a href="mailto:jeff@bellanddavispllc.com">jeff@bellanddavispllc.com</a><span style="color:black"><br>
</span></span><span style="font-size:11.0pt;mso-ligatures:none"><a href="http://scanmail.trustwave.com/?c=22645&d=3ZP45_Tim_NPdbVk0EtbHNojzqpiA2-7Fwr2iD76Hg&s=1714&u=http%3a%2f%2fwww%2ebellanddavispllc%2ecom%2f" target="_blank"><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:blue">www.bellanddavispllc.com</span></a></span><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black;mso-ligatures:none"><br>
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The information contained in this e-mail message may be privileged, confidential, and protected from disclosure. If you are not the intended recipient, any dissemination, distribution, or copying is strictly prohibited. If you think that you have received this
e-mail message in error, please e-mail the sender at </span><span style="font-size:11.0pt;mso-ligatures:none"><a href="mailto:info@bellanddavispllc.com"><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:blue">info@bellanddavispllc.com</span></a></span><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;color:black;mso-ligatures:none">
or call 360.683.1129.</span><span style="font-size:10.0pt;font-family:"Tahoma",sans-serif;mso-ligatures:none"><o:p></o:p></span></p>
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