§12.20 - Inheritances

• Jurisdiction: Washington

§12.20 INHERITANCES

Transfers of real property by inheritance are generally not subject to the real estate excise tax. WAC 458-61A-202(1). A non—pro rata distribution by a personal representative of a probate estate or by the trustee of a trust is not taxable if the transfer is authorized under the nonintervention powers of a personal representative pursuant to RCW 11.68.090 or under the non—pro rata distribution powers of a trustee pursuant to RCW 11.98.070(15) and if no consideration passes between the grantee beneficiary and the personal representative or trustee. WAC 458-61A-202(2). If consideration is given by the grantee beneficiary, the transfer will be taxable to the extent of the consideration. For purposes of WAC 458-61A-202, consideration does not include the indebtedness balance of any real property transferred that is encumbered by a lien securing an indebtedness. WAC 458-61A-202(2). Completion of the real estate excise...