H-0739.1 _______________________________________________
ENGROSSED HOUSE BILL 1323
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State of Washington 54th Legislature 1996 Regular Session
By Representatives Cairnes, Hargrove and Sherstad
Read first time 01/20/95. Referred to Committee on Trade & Economic Development.
AN ACT Relating to an exemption for new construction from seller's disclosure requirements; and amending RCW 64.06.010.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 64.06.010 and 1994 c 200 s 2 are each amended to read as follows:
This chapter does not apply to the following transfers of residential real property:
(1) A foreclosure, deed-in-lieu of foreclosure, or a sale by a lienholder who acquired the residential real property through foreclosure or deed-in-lieu of foreclosure;
(2) A gift or other transfer to a parent, spouse, or child of a transferor or child of any parent or spouse of a transferor;
(3) A transfer between spouses in connection with a marital dissolution;
(4) A transfer where a buyer had an ownership interest in the property within two years of the date of the transfer including, but not limited to, an ownership interest as a partner in a partnership, a limited partner in a limited partnership, a shareholder in a corporation, a leasehold interest, or transfers to and from a facilitator pursuant to a tax deferred exchange;
(5) A
transfer of an interest that is less than fee simple, except that the transfer
of a vendee's interest under a real estate contract is subject to the
requirements of this chapter; ((and))
(6) A transfer made by the personal representative of the estate of the decedent or by a trustee in bankruptcy; and
(7) A transfer of new residential construction, if the seller is registered under chapter 18.27 RCW, and if the buyer is the first purchaser.
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