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Scott Bridwell
"Marketing Consultant"
- 1 Helpful Answer
- 3 Answers
Experience:
Emerging Technologies for Stewart Title
May 2001—August 2008
Responsible for market share growth of all branch locations through educating and selling…
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Responsible for market share growth of all branch locations through educating and selling…
Specialties:
Sales and Marketing Coach
Social Media Optimization ... show more
Social Media Optimization ... show more
Interests:
Social Media, Blogging, Real Estate, Business Consultant
About:
Over 10 years experience in Business Development and Real Estate Marketing.
Scott Bridwell answered:
Bit of advise - Contact a real estate attorney...it may cost a couple of hundred dollars but could save you thousands. If this document is not executed properly you may have to pay excise tax based on the loan amount. In addition, the lender could reserve the right to call the loan. Why? Because they gave the loan to the borrower based on them owning the property...if the borrower transfers ownership and the lender is not aware/or approves, then they could call the note.
Now...to answer your question...Yes, you can transfer title without paying any excise tax (which in Clark County is 1.78%). In order to do so you have to make sure you're using the proper WAC Code. You may want to call a Title Company and ask to speak to an Escrow Officer...ask them what the WAC Code for love and affection is.
Where to get a Quit Claim Deed? Here is a link to the document http://www.wsba.org/info/1205ilrev12.2006qcd.pdf This document and other forms can be downloaded (for free) at the Washington State Bar Association website http://www.wsba.org/info/lpo-forms.htm
Now...to answer your question...Yes, you can transfer title without paying any excise tax (which in Clark County is 1.78%). In order to do so you have to make sure you're using the proper WAC Code. You may want to call a Title Company and ask to speak to an Escrow Officer...ask them what the WAC Code for love and affection is.
Where to get a Quit Claim Deed? Here is a link to the document http://www.wsba.org/info/1205ilrev12.2006qcd.pdf This document and other forms can be downloaded (for free) at the Washington State Bar Association website http://www.wsba.org/info/lpo-forms.htm
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