REAL ESTATE
REAL ESTATE
We provide a wide variety of services related to real estate transactions and litigation.
Boundary line disputes. We can help you resolve disputes over boundary lines, easements, and use of property. Disputes between adjacent landowners commonly arise over encroaching fences, misidentified boundary lines, and improper use of easements. There are a variety of options for conclusively resolving these problems, and we strongly recommend doing so before a property is listed for sale or a construction project is underway.
Clearing title. Title to real property might be impacted by liens or claims. If someone has recorded a lien or filed a claim against your property, these “clouds” on your title may prevent or inhibit your ability to sell or transfer it. Washington law provides a process for clearing certain liens or claims off your title, so you can market or transfer the property without concern.
Real property sales. We assist both buyers and sellers in structuring the transfer of real property. We can help prepare purchase and sale agreements, review title issues, and facilitate closing of the transaction. If you would like to sell your real estate without a broker, we can help. We can assist in the preparation of the documents required to sell real property, including the purchase and sale agreement, warranties, and disclosure forms. We will also handle the closing, the point at which money and title are exchanged and the transaction is consummated.
Gifting real property. To gift real property to someone else, it must be evidenced by a properly prepared deed which is recorded. Even when it is a gift, the legal requirements for transferring real property must be strictly followed, or the transfer will be ineffective. There are many types of deeds, and we will determine which one is best for your situation. We can help you prepare the appropriate deed to ensure that the gift is effective and does not create any unintended consequences. In addition, we prepare all necessary documents to record the deed, such as the Real Estate Excise Tax Affidavit and any supplemental statements.
Transferring real property often creates tax consequences as well, so before you proceed, we will help you analyze these issues so you will know what to expect. Because the transfer could trigger real estate excise tax, you must take care to properly document that the transfer is a gift. Gifts of real property are generally not subject to excise tax. However, gifting may create income and capital gains tax consequences. When you make a transfer by gift, you also transfer your tax basis to the recipient. Although the recipient pays no tax when he or she receives the gifted property, capital gains taxes may be owed when the property is ultimately sold.
With proper planning, you may be able to avoid capital gains tax. We encourage you to consult with us before transferring real property by gift to ensure that you maximize your gift and do not expose the recipient to unnecessary tax liability.
Contact us to schedule a consult with an experienced real estate attorney.
Contact Us
General: info@lka-legal.com
John Keckemet: keck@lka-legal.com
Phone
tel: 206.728.5858
We provide a wide variety of services related to real estate transactions and litigation.
Boundary line disputes. We can help you resolve disputes over boundary lines, easements, and use of property. Disputes between adjacent landowners commonly arise over encroaching fences, misidentified boundary lines, and improper use of easements. There are a variety of options for conclusively resolving these problems, and we strongly recommend doing so before a property is listed for sale or a construction project is underway.
Clearing title. Title to real property might be impacted by liens or claims. If someone has recorded a lien or filed a claim against your property, these “clouds” on your title may prevent or inhibit your ability to sell or transfer it. Washington law provides a process for clearing certain liens or claims off your title, so you can market or transfer the property without concern.
Real property sales. We assist both buyers and sellers in structuring the transfer of real property. We can help prepare purchase and sale agreements, review title issues, and facilitate closing of the transaction. If you would like to sell your real estate without a broker, we can help. We can assist in the preparation of the documents required to sell real property, including the purchase and sale agreement, warranties, and disclosure forms. We will also handle the closing, the point at which money and title are exchanged and the transaction is consummated.
Gifting real property. To gift real property to someone else, it must be evidenced by a properly prepared deed which is recorded. Even when it is a gift, the legal requirements for transferring real property must be strictly followed, or the transfer will be ineffective. There are many types of deeds, and we will determine which one is best for your situation. We can help you prepare the appropriate deed to ensure that the gift is effective and does not create any unintended consequences. In addition, we prepare all necessary documents to record the deed, such as the Real Estate Excise Tax Affidavit and any supplemental statements.
Transferring real property often creates tax consequences as well, so before you proceed, we will help you analyze these issues so you will know what to expect. Because the transfer could trigger real estate excise tax, you must take care to properly document that the transfer is a gift. Gifts of real property are generally not subject to excise tax. However, gifting may create income and capital gains tax consequences. When you make a transfer by gift, you also transfer your tax basis to the recipient. Although the recipient pays no tax when he or she receives the gifted property, capital gains taxes may be owed when the property is ultimately sold.
With proper planning, you may be able to avoid capital gains tax. We encourage you to consult with us before transferring real property by gift to ensure that you maximize your gift and do not expose the recipient to unnecessary tax liability.
Contact us to schedule a consult with an experienced real estate attorney.
Contact Us
General: info@lka-legal.com
John Keckemet: keck@lka-legal.com
Phone
tel: 206.728.5858