Loans to
Trusts and Estate

Location: San Francisco, California
Funded: $1,310,000
Private Loan Type: Trust Loan

Deal Highlights:

  • This property qualified for Prop 58 based on date of death being prior to Prop 19

  • Complex buyout structure (8 beneficiaries)

Deal Summary:

In this matter, the trustee happened to be the beneficiary wanting to take Title to this free-and-clear investment property while preserving the property tax basis under Prop 58 (date of death for the settlor occurred prior to Prop 19 going into effect).

In order to do so, the Trust needed to borrow sufficient funds to equalize the cash shares for the other beneficiaries. HCS Equity provided a loan to the Trust to facilitate this, our client was able to take Title to the property, and they immediately refinanced into a traditional loan.

Deal Details:

  • Property Type – 3 unit residential, multi-family

  • Lien Position – First Mortgage

  • Loan-to-Value – 65%

  • Loan Term – 12 months

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HCS Equity is a private money lender based in Carmel, California, specialized in loans for trust & estate property.

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