Posted on: 11th Feb, 2011 09:36 pm
Hello.
Last year my then boyfriend and I refinanced our house and I added him to the title doing a quick claim deed. I purchased the home three years prior and made payments to the mortgage company with no issues. We pay the mortgage from the same account (my husband is a signer now). Today I received a notice that I owe excise tax for half of the payoff amount when I refinanced.
This doesn't make any sense since the property was not sold. I live in Washington state. Should I pay the tax or do I have a valid argument to contest this?
Thank you.
Last year my then boyfriend and I refinanced our house and I added him to the title doing a quick claim deed. I purchased the home three years prior and made payments to the mortgage company with no issues. We pay the mortgage from the same account (my husband is a signer now). Today I received a notice that I owe excise tax for half of the payoff amount when I refinanced.
This doesn't make any sense since the property was not sold. I live in Washington state. Should I pay the tax or do I have a valid argument to contest this?
Thank you.
Hi Bramsche,
You should contact a tax adviser and a real estate attorney and take their opinion in this matter. They will be able to guide you in this regard.
Thanks
You should contact a tax adviser and a real estate attorney and take their opinion in this matter. They will be able to guide you in this regard.
Thanks