§12.31 - Security Interest-Creation, Assignment, and Release

• Jurisdiction: Washington

§12.31 SECURITY INTERESTCREATION, ASSIGNMENT, AND RELEASE

The granting of a mortgage or other transfer of an interest in real property merely to secure a debt, or the assignment of the security interest, is not a taxable transaction, and completion of the real estate excise tax affidavit is not necessary. WAC 458-61A-102(15)(d)(iii). The real estate excise tax does not apply to a deed given to a purchaser under a real estate contract upon fulfillment of the terms of the contract if the correct tax...