Loans to
Sibling Buyout – Probate
Location: Redwood City, CA
Funded: $685,000
Private Loan Type: Probate Loan
Deal Highlights:
Fairly straightforward probate matter
One sibling buying out another
Free and clear property, and no other assets in the estate
Deal Summary:
The administrator worked with their probate attorney to calculate the estates asset value and liabilities. A loan to the estate was needed to comply with the BOE rules for the Prop 19 parent/child exclusion from reassessment. Once probate closes, and the property is distributed, the beneficiary retaining the property will refinance right away.
Deal Details:
Property Type – Single Family
Lien Position – First
Loan-to-Value – 58%
Loan Term – 12 months
