Loans to
Trusts and Estates
Location: Santa Barbara, CA
Funded: $1,800,000
Private Loan Type: Trust Loans
Deal Highlights:
Deal Summary:
After years of negotiations among the beneficiaries, it was determined that one wanted to keep the investment property held in the family trust, and buy out their two siblings. Their surviving parent’s date of death occurred prior to Proposition 19 going into effect, so they qualified for the property tax benefits under Proposition 58. The correct steps were taken by the trust to encumber the property, equalize the trust’s assets, and preserve the property taxes. We worked hand-in-hand with the trustee and their attorney to provide a trust loan and to ensure all went seamlessly.
Deal Details:
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