A Bulk Sales Affidavit Form is used by a seller of a business to inform the buyer of all creditors of the business and the amount of their claims against the business. Generally, failure to comply with the Bulk Sales or Transfers Act portion of the Uniform Commercial Code will mean that original creditors of a seller will have a lien against the assets and inventory which are transferred to the buyer.
Washington Bulk Sales Transfer Affidavit
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Multi-State
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US-00043DR
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Word;
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How to fill out Bulk Sales Transfer Affidavit?
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An affidavit for transfer without probate allows a person to claim property after someone has passed away without going through the lengthy probate process. In Washington state, this affidavit can streamline the transfer of assets, making it simpler for heirs to manage the deceased's estate. Completing a Washington Bulk Sales Transfer Affidavit may be necessary if property or assets are involved in the transaction. USLegalForms offers templates and guidance to help you prepare this affidavit correctly.
The seller of the property typically pays the real estate excise tax, although the buyer is liable for the tax if it is not paid. Unpaid tax can become a lien on the transferred property. REET also applies to transfers of controlling interest (50% or more) in entities that own real property in the state.
REET is a tax on the sale of real estate and is typically paid by the seller of the property. Excise taxes assessed on a conveyance (transfer) must be paid prior to the recording of the conveyance documents, such as the warranty deed or real estate contract.
Controlling Interest Transfer Return (Use Form No. 84-0001A for reporting transfers by deed or real estate contract to the county treasurer/recorder of the county in which the real property is located.)
What is Washington's real estate excise tax? For the portion of the selling price that is:Real Estate Excise Tax RateLess than or equal to $525,0001.1%Greater than $525,000 and less than or equal to $1,525,0001.28%Greater than $1,525,000 and less than or equal to $3,025,0002.75%Greater than $3,025,0003.0%
What rate do I pay? The Leasehold Excise Tax rate is . 1284 of the rent paid for the property.
Liability for the tax is between the purchaser and seller.
Sellers customarily foot the bill But who pays for transfer taxes might come down to where you live. Though it is most common for the seller to pay the state and county taxes, there are some parts of Northern California where buyers split or pick up the city transfer tax tab.
What is transfer tax? Transfer tax is charged on each transfer of real property located within Washington County. "Transfer of real property" includes every sale, quitclaim, contract for sale, or other transfer of title to real property. The tax is one dollar per thousand dollars of the selling price.
