What is a Probate Loan?

Probate Loans

Probate Loans

Probate Loans & Estate Loans

Commercial Loan Corporation is a California based provider of probate loans. Our probate and estate loans are specifically designed to help heirs, beneficiaries and administrators who are in need of financing on a home involved in the probate process. Commercial Loan Corporation is California’s premier probate lender. We have helped our clients save over 12 million dollars in property taxes by transferring a parent’s low property tax base on an inherited home. We provide estates with the cash needed to make an equal distribution and qualify for a California Parent to Child Property Tax Transfer.

Our specialized probate loans and estate loans allow heirs, beneficiaries and probate administrators to buy out siblings, settle debts, make improvements to a home, and prevent property tax reassessment on a home being inherited from a parent. We offer affordable loans that are customized to your needs. We provide each client with a Free Upfront Probate Loan Benefit Analysis that shows your estimated loan proceeds, property tax savings and the costs associated with the loan.  On average our probate loans, estate loans and trust loans save our clients over $6,550 in property taxes each year by avoiding property tax reassessment on an inherited home.

If you, a sibling or a client is interested in a California Probate Loan, Loan to a Trust or Estate Loan, we are here to assist you. Call us at 877-464-1066 and we can provide you with a free estimate showing you how much you might be able to save by avoiding property tax reassessment with the help of a probate loan.

What is a Probate Loan?

Probate loans are loans provided to a home involved in the probate process. Probate is the administration of a deceased person’s estate, with or without a will. A probate loan or estate loan provides funds to the probate estate to accomplish a goal that requires the conversion of equity in the real estate into cash. The probate loan is made directly to the estate. A probate loan must be approved by the probate administrator. We can help guide your through the process and if needed, put you in contact with an Attorney or Property Tax Consultant to assist you with the process.

Why is a Probate Loan needed in some situations?

A Probate loan or estate loan, provides cash to the estate for a variety of purposes. During the probate process, which can be lengthy, the administrator of the estate may need funds to administer the estate. Examples of this may include utility costs, property taxes, property insurance, association fees, legal expenses, paying off outstanding debt, mortgage payments, or property maintenance expenses. Without a probate loan, the estate may not be able to afford to meet the costs of these expenses. A probate loan or estate loan is also often used to buy out siblings when multiple siblings are inheriting a home from a parent. For example, the child that wants to keep the family home can take out an estate loan and buy out the other siblings with the cash provided from the probate loan. If a child wants to keep a parents low property tax base on an inherited home, the County Assessors Office must approve the exclusion for reassessment. One of the requirements of a California Property Tax Transfer and Exclusion for Property Tax Reassessment is that an equal distribution of assets be made to all child heirs / beneficiaries and that if sufficient cash assets do not exist in the estate, that a non-personally guaranteed 3rd party loan be used to equalize the distribution. If the process is not done correctly, the property may be reassessed at the current market value. On average we are able to save our clients over $6,500 per year in property taxes by helping them avoid property tax reassessment on the inherited home. Additionally, we save the estate over $50,000 on average by avoiding the costly realtor fees associated with selling a home, and all of the heirs / beneficiaries are able to take advantage of that savings. If you are interested in finding out if a probate loan might be a good option for you, please call us at (877) 464-1066

California Estate Loan And Trust Loan Provider

Estate Loans and Third Party Loans To Trusts - Call Commercial Loan Corporation at 877-464-1066

Estate Loans and Third Party Loans To Trusts – Call 877-464-1066 For Assistance

Provider Of California Estate Loans

Thanks to California Proposition 58, a parent is permitted to transfer their low property tax rate to a child on an inherited piece of real estate. Unfortunately, in some situations receiving an exclusion from property tax reassessment can be easier said than done. Specific steps must be taken to receive your exclusion from your local County Tax Assessors Office and if they are not done correctly, you may lose your ability to preserve your parents low property tax rate. Commercial Loan Corporation specializes in providing loans to estates and trusts. These specialty private money mortgages assist our clients in qualifying for the Prop 58 property tax exclusion from reassessment. In addition to providing third party private money trust and estate mortgages, we can also put you in contact with a qualified estate attorney, probate attorney, fiduciary or California property tax consultant to assist you in qualifying for your Proposition 58 benefits.If you need an estate or trust loan, or have questions, please call us at 877-464-1066 or complete our information request form located here.

Proposition 58 Exclusion From Property Tax Reassessment

In 1986 California enacted Proposition 58. Proposition 58 allows for an inheriting property owner to avoid a property tax reassessment when acquiring real estate from their parents. The inheriting owner’s property taxes are calculated on the established Proposition 13 factored value, instead of the current market value, saving them potentially thousands of dollars annually. This is especially important if one of the children inheriting the property wants to either keep the home as a residence or as an investment property. If the parent has owned the home for an extended period of time, there is a high probability that Prop 13 has kept their property tax rate much lower than it would be if the property was reassessed at current market value.

Under Proposition 58, retaining a parents low property tax rate can become complicated when there is not enough liquid assets in the trust or estate to create an equal distribution to all siblings. In this situation a third party loan placed against the inherited home may be the only option to make an equal distribution. The additional cash made available from our 3rd party loan allows each of the siblings to receive an equal share of the assets. If the third party loan is not handled properly, the County Assessors Office may reject your request for a Proposition 58 exclusion from property tax reassessment and the property taxes will be calculated on the homes current assessed value. If you, one of your siblings or a client of yours is in need of a third party loan to take advantage of California Proposition 58’s exclusion from property tax reassessment, call Us at 877-464-1066.  We specialize in providing private money loans to trusts and estates and can assist you.