Lucent

This article discusses changes to Washington state’s real estate excise tax which took effect on January 1, 2020. Introduction Prior Law (Prior to January 1, 2020) Washington charges excise tax on taxable real estate sales and transfers. Prior to January 1, 2020, the excise tax rate was a uniform rate equal to 1.28% of the true and fair value…

This article is written for real estate developers, builders, lawyers, land planners, real estate brokers and other real estate professionals who want to know more about changes in Washington’s owner association and condominium statutes. Introduction On July 1, 2018, major changes to Washington law governing homeowners and condominium owners …

Note: This is the first of a series of articles for new business startups and owners.  First Question to Ask If you want to a new business, or buy an existing business, you should first ask: how can I protect my personal assets? Unless the business is set up correctly and managed properly, new business owners face the risk of exposing potentially …

Idaho Jury Verdict is a Warning to HOA Boards A couple living in Hayden, Idaho was recently awarded a $75,000 verdict against their HOA after a jury decided the HOA had discriminated against the couple on the basis of religion. In short, the couple holds a multi-day Christmas event on their property each year, featuring elaborate lighting, decorati…

Washington state has introduced significant new changes to the filing of limited liability companies and corporations. Starting November 13, 2017, the Washington Secretary of State adopted a new online filing system to form new entities, perform maintenance on existing entities and research information about LLCs and corporations. Fennemore has reg…

Many markets are experiencing limited home supply with increasing buyer demand. These factors lead to higher prices for homes and the potential for multiple offers to be made on a single home. This can be a great opportunity for sellers and a frustrating experience for buyers. This articles describes price escalation clauses and when they should be…