Trust Loan Blog

Welcome to the Commercial Loan Corporation Trust Loan Blog

Here you will find recent blog articles relating to Commercial Loan Corporation trust loans and mortgages for estates in a trust. These loans help our clients avoid property tax reassessment on real estate being transferred from a trust to an individual. This process uses Proposition 58 to help preserve a low Proposition 13 tax rate. Commercial Loan Corporation specializes in providing our clients with a 3rd party trust loan to make an illiquid trust liquid.

Recent Posts

California Proposition 13 & Proposition 58

California Proposition 58 and Proposition 13

California Proposition 58 and Proposition 13

Recently there has been debate in California if Proposition 13 and Proposition 58 still make sense. Without hesitation, the answer is yes. In June of 1978, California voters passed Proposition 13 with 65% of the total vote. Still, to this day, interestingly enough, 65% of “likely voters” in California still support the Proposition 13 this tax relief initiative.

California Prop 13 stabilized property taxes for Californians and gave a great incentive that encouraged Californian’s to become homeowners. The Proposition 13 tax break made property tax increases more affordable by limiting them to a maximum of 2% annually. Californians are fortunate enough to still be benefiting from this same formula 42 years later.

Proposition 58 works in conjunction with Proposition 13. Prop 58 allows a parent to transfer their Proposition 13 protected property tax base to a child. This is especially important when a child inherits a home from a parent. Prop 58 allows the child to inherit the home without having the property taxes reassessed, saving potentially thousands of dollars annually. This can make a home that may otherwise be unaffordable for the child, now affordable.

  1. Trust and Estates Terms and Definitions Leave a reply
  2. Parent to Child Property Tax Transfer Leave a reply
  3. Irrevocable Trust Loans Leave a reply
  4. USC Trust & Estate Conference Leave a reply
  5. Irrevocable Trust Loan Specialist Leave a reply
  6. California Proposition 58 – Avoiding a sibling to sibling buyout Leave a reply
  7. California Proposition 13 – People’s Initiative to Limit Property Taxation Leave a reply
  8. Jay Rhein – Trust & Estate Loan Account Executive Leave a reply
  9. What is Proposition 58? Leave a reply