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AGO Opinions with Topic: MORTGAGES
AGO 2005 No. 10 >  August 4, 2005
TAXES - MORTGAGES - INTEREST
Availability of a deduction from business and occupation tax for mortgage brokers on “loan origination fees” or “points” Payments to a mortgage broker in connection with a mortgage or deed of trust denominated as “loan origination fees” or “points” are not deductible from the business and occupation tax as “interest” where the fees are provided in compensation for services performed.  Availability of the deduction in particular instances depends upon the factual circumstances surrounding the transaction, including the services performed by the mortgage broker.
AGO 1990 No. 8 >  September 12, 1990
SCHOOLS - DISTRICTS - MORTGAGES - REAL PROPERTY
SCHOOLS--DISTRICTS--MORTGAGES--REAL PROPERTY An individual school district cannot finance the acquisition of real property for school district purposes by borrowing funds from an institutional lender and securing payment of the obligation with a mortgage on the property acquired with the loan proceeds.
AGO 1961 No. 61 >  September 7, 1961
MORTGAGES - CHATTEL - RELEASE WHEN LOAN IS RENEWED
MORTGAGES ‑- CHATTEL ‑- RELEASE WHEN LOAN IS RENEWED A licensee under the small loan act is under a mandatory duty to release security only when the security is in fact legally discharged.
AGO 1958 No. 166 >  February 26, 1958
MORTGAGES - RECORDING OF SATISFACTION OF MORTGAGE BY THE STATE OF WASHINGTON DOES NOT REQUIRE A FILING FEE - HIGHWAYS - RECORDING OF SATISFACTION OF MORTGAGE BY THE STATE IS NOT SUBJECT TO PAYMENT OF COUNTY FILING FEE - FEES - STATE HIGHWAY DEPARTMENT - NOT REQUIRED TO PAY COUNTY FILING FEE FOR RECORDING SATISFACTION OF MORTGAGE
MORTGAGES ‑- RECORDING OF SATISFACTION OF MORTGAGE BY THE STATE OF WASHINGTON DOES NOT REQUIRE A FILING FEE -- HIGHWAYS ‑- RECORDING OF SATISFACTION OF MORTGAGE BY THE STATE IS NOT SUBJECT TO... Recording of satisfaction of a mortgage by the state of Washington does not require payment of county filing fee.
AGO 1957 No. 15 >  February 6, 1957
TAXATION - MORTGAGES - PRIORITY OF PERSONAL PROPERTY TAX OVER PRE‑EXISTING [[PREEXISTING]]CHATTEL MORTGAGE
TAXATION, MORTGAGES, PRIORITY OF PERSONAL PROPERTY TAX OVER PRE‑EXISTING [[PREEXISTING]]CHATTEL MORTGAGE The lien for personal property taxes against the property actually assessed for the tax is superior to a pre‑existing [[preexisting]] chattel mortgage on the same property and the property may be followed and the taxes collected after foreclosure of the mortgage.
AGO 1955 No. 141 >  September 29, 1955
REAL ESTATE SALES TAX - EXCLUSIONS FROM SALES - MORTGAGES - CONTRACTS OF SALE - ASSUMPTION OF BALANCE - MEASURE OF TAX WHEN CONSIDERATION PASSES
REAL ESTATE SALES TAX -- EXCLUSIONS FROM SALES -- MORTGAGES -- CONTRACTS OF SALE -- ASSUMPTION OF BALANCE -- MEASURE OF TAX WHEN CONSIDERATION PASSES Chapter 132, Laws of 1955, amending RCW 28.45.010, excludes from the term "sale" those transactions where the "deed in lieu of foreclosure of a mortgage" and the assumption by the grantee of the balance owing on an obligation which is secured by a mortgage is to a third person rather than the original parties. When consideration has been passed, the tax applies to the selling price which includes the other consideration and the balance owing on the obligation secured by a mortgage on the balance owing on the contract of sale.
AGO 1952 No. 251 >  March 5, 1952
MORTGAGES - REAL ESTATE SALES TAX
MORTGAGES ‑- REAL ESTATE SALES TAX
The real estate sales tax is measured by the full amount of the contract price for land without deduction for the mortgage debt, even though the buyer is already personally liable on such debt.
AGLO 1978 No. 2 >  February 14, 1978
BANKS AND BANKING - MORTGAGES - FINANCIAL DISCLOSURE BY FEDERALLY CHARTERED FINANCIAL INSTITUTIONS
BANKS AND BANKING ‑- MORTGAGES ‑- FINANCIAL DISCLOSURE BY FEDERALLY CHARTERED FINANCIAL INSTITUTIONS Those national banks, federal savings and loan associations and federal credit unions which do business within the state of Washington are required to file annual reports of their financial affairs with the Secretary of State in accordance with the provisions of §§ 1-9, chapter 301, Laws of 1977, 1st Ex. Sess.
AGO 2008 No. 9 >  October 23, 2008
REAL ESTATE - PROPERTY - MORTGAGES - LICENSES
Interpretation of 2008 statute concerning “distressed home consultants.” 1.  For the purposes of Laws of 2008, ch. 278, § 1(3), a person who offers to purchase a distressed home, and no more, does not thereby become a “distressed home consultant.”  2.  For the purposes of Laws of 2008, ch. 278, §§ 2, 3, a real estate licensee would likely become a “distressed home consultant” if the real estate licensee contacts the distressed homeowner’s lender to arrange a “short sale” in which the homeowner’s debt to the lender will be discharged for the amount of the sale price of the home when the sale price is less than the homeowner owes on the loan.  3.  For the purposes of Laws of 2008, ch. 278, §§ 2, 3, a real estate licensee becomes a “distressed home consultant” by performing licensed activities in connection with a real estate transaction when the property involved is a “distressed home,” if the licensee (1) solicits the owner; (2) offers to perform a service on the owner’s behalf; and (3) represents that the service will satisfy one or more of the conditions listed in Laws of 2008, ch. 278, § 1(3)(a).
AGO 1955 No. 95 >  June 8, 1955
TAXATION - REAL ESTATE SALES TAX - MORTGAGES - ASSUMPTION OF BALANCE
TAXATION--REAL ESTATE SALES TAX--MORTGAGES--ASSUMPTION OF BALANCE Chapter 132, Laws of 1955 excludes from the definition of the term “sale” under RCW 28.45.010 a transaction in which a grantee assumes the balance owing on an obligation which is secured by a mortgage and no other consideration passes between the grantee and the grantor.
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