Other LanguagesThe one percent real estate excise tax does not apply to the transfer of real property by one corporation to another corporation where the transferor owns all of the authorized issued and outstanding capital stock of the transferee and no additional stock is to be issued in exchange for the real property.
1. The real estate excise tax does not apply to a transfer of real estate by deed from a mortgagee to the mortgagor in lieu of foreclosure. 2. Same: The tax does apply to the immediate resale of the property by the mortgagee to the mortgagor under a contract of sale. 3. Same: The fact that the two transfers constitute an over-all agreement between the parties does not affect the tax consequences.
A deed naming no grantee which is given to a purchaser for a consideration vests equitable title in the purchaser, and the transaction constitutes a taxable sale. Subsequent delivery of the deed by such purchaser to a third person named as grantee in the deed for consideration is also a taxable sale.
The sale of an individual apartment by the owner of an apartment building which entitles the purchaser to a warranty deed upon completion of payments, is a "sale" within the meaning of RCW 28.45.010; therefore the sale is subject to the real estate excise tax.
The transfer of real property to a corporation by the sole stockholder, the consideration being the issuance of common stock to said stockholder, constitutes a sale under chapter 28.45 RCW, the real estate excise tax statute.
A transfer by a vendee of his interest to a third person where no consideration is involved except the assumption of the vendee's liability to pay the balance of the purchase price is excluded from the term "sale."
(1) The transfer of real property to a corporation by the sole stockholder, the consideration being the issuance of common stock to said stockholder, constitutes a sale under chapter 28.45 RCW, the real estate excise tax statute. (2) The board of county commissioners is not legally authorized to waive payment of the tax in the described transaction.
1. The excise tax does not apply to property settlement agreements which the parties make with the intent that such agreements are not to become final and binding until so ordered by the court pursuant to a divorce proceeding.2. The excise tax does apply to property settlement agreements which the parties intend to be final and binding irrespective of the completion of a contemplated divorce proceeding.
The real estate excise tax does not apply to sales of timber made by Indians holding trust allotments where after the execution of the contracts the Indians have received fee patents to their lands.
The county real estate excise tax applies to both conveyances where an owner desiring a new home conveys his existing home to a contractor who first uses the old home as collateral to secure a loan under FHA to finance the construction of the new home and then conveys the old home to a third person.