THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: WA000048
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Bulletin: WA000048
Dear Associates:
WAC section 458-61-230 concerning Bankruptcy has been amended effective May 5th, 2000.
The code, as amended now states:
WAC 458-61-230 Bankruptcy.
(1) The real estate excise tax does not apply to conveyances of real property by a trustee in bankruptcy or debtor in possession made either a chapter 11 plan or chapter 12 plan after the bankruptcy plan is confirmed.
(2) The date when the bankruptcy plan was confirmed, the court case cause number, and the bankruptcy chapter number must be cited on the affidavit when claiming this exemption.
For your convenience a copy of the amended section and the Washington Department of Revenue's Explanatory Statement is available through the Washington District Office.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None
- Forms:
- None