If you are planning to sell a property in Washington, then the Real Estate Excise Tax has to be paid. The State Law of WA demands an Excise Tax Affidavit be completed and signed before the registration of the legal document of transfer of the ownership of the property. In this article, we will discuss how to fill out this form and the main objective of this legal record.
The Real Estate Excise Tax Affidavit form in Washington is a document that depicts the full amount of excise tax that is imposed on real estate. The tax is paid by the seller. The paper includes information about the seller and the buyer of the property, the type of the property, and its full description. The paper also depicts all of the data connected to the taxes and other payments concerning the property.
In this segment, we will cover how to write out the form. The Tax Affidavit itself has many sections and subsections, so one must be careful while filling it out.
For this filling-out guide, we will utilize a single location affidavit. Nevertheless, there are other types of this document, for example, Multiple locations Affidavit and Real Estate Excise Tax Mobile Home Affidavit, and additional papers might be required to be filed for such forms.
But as of now, we are discussing the single location Real Estate Excise Tax Affidavit. We recommend using our modern form-building software to ensure the best result in form completion.
Section 1. Information About the Seller
Here, one will have to fill out the data about the seller: include full legal name, mailing address, and full address, as well as the cell phone number of the one who is releasing interest in the property.
Section 2. Information About the Buyer
In this subsection, data about the buyer has to be depicted: list the full legal name, mailing address, full address, and phone number.
Section 3. New Taxpayer Data
In this part, you will have to fill out the information on the taxpayer: full legal name, mailing address, and regular address. Then, you will have to list all real and personal property tax parcel account numbers, they should contain 11 digits. Indicate if it is personal property or not, and then type in the estimated value of the property.
Section 4. Description of the Property
Fill out the address of the property and its location and include the legal description of the property.
Section 5. Enter the Land Use Code For Property
The codes themselves can be found on the official instructions page. Then, tick the appropriate boxes below:
Section 6. Special Use of Land
Here one will have to tick ‘Yes’ or ‘No’ in several subquestions. Tick ‘Yes’ in case the property is in any specific use classification, for example, agricultural use, farm, historic property, or timber.
If you chose the ‘Yes’ option for any of the questions listed, make sure to see the instructions below and complete an additional segment connected with specific land use. Do not forget to put the legal names and signatures of the new owners in case you chose to fill out this section.
Section 7. Personal Property Description
In this part, all information concerning the personal property will be depicted:
Section 8. Signatures
Both the buyer and the seller will have to sign the paper. Also, make sure to indicate the full legal names of the seller and the buyer, the current date, and the city where the document is signed.