Location: San Anselmo, CA Funded: $1,735,000 Private Loan Type: Trust Loan
Four beneficiaries needed to equalize their family’s irrevocable trust
The trust was comprised of multiple properties, and various investment accounts
The beneficiaries went through a long negotiation process to determine who would take possession of which assets held in their parent’s irrevocable trust. Once all the calculations were completed there was a shortage of cash to complete the non pro-rata equalization and distribution of assets between beneficiaries, so we worked with the family to secure a lien against the parent’s primary residence and provide a loan to the trust in probate to complete the distribution.
Property Type – Multifamily
Lien Position – First Mortgage
Loan-to-Value – 65%
Loan Term – 12 months
More Deals by HCS Equity
HCS Equity is a private money lender based in Carmel, California, specialized in loans for trust & estate property.
Ben2024-02-02T12:28:32+00:00February 2nd, 2024|Comments Off on Beneficiary Buyout Under Proposition 58
HCS Equity provided a loan directly to the trust, allowing one beneficiary to keep the family property and the other to receive money for their share.
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