Loans to
Trusts and Estates

Location: Pacific Grove, CA
Funded: $1,536,000
Private Loan Type: Trust Loan

Proposition-58-equalization-assets

Deal Highlights:

  • Free and clear property held in an irrevocable trust

  • One beneficiary wanted to keep the property

Deal Summary:

One property was held in an irrevocable trust with two beneficiaries. The trust had no other assets, so the trust attorney advised their clients to contact our firm to provide a trust loan to complete the non pro-rata equalization and distribution of assets. Once the value of the property was agreed upon, we stepped in to provide the loan. The cash and property were then distributed, and the attorney filed the PCOR and BOE-58 forms with the county for the parent/child exclusion from reassessment under Proposition 58.

Deal Details:

  • Property Type – Mixed-Use

  • Lien Position – First Mortgage

  • Loan-to-Value – 53%

  • Loan Term – 12 months

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