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
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.