How to keep a low property tax rate on a home your inherited from your parent in California.

How to keep a parents property tax rate on an inherited home.

How to keep a parents property tax rate on an inherited home.

KEEP A LOW PROPERTY TAX RATE ON AN INHERITED HOME

When inheriting a home from a parent or grandparent, California Proposition 58 may allow you to avoid a property tax reassessment. Taking advantage of this Proposition 58 provision can save you thousands of dollars each year in property taxes.  In fact, our average client saves over $6,000 a year in property taxes.

In order to avoid a property tax reassessment, certain procedures must be followed and documents must be properly submitted to the county tax assessors office. The process can be complicated. This is especially true when the property is held in a trust or when multiple siblings are inheriting property, money or other assets from a parent. An even distribution of assets is required to qualify and a beneficiary can not contribute their own funds to make an equal distribution. This is where Commercial Loan Corporation can help.  We are one of just a few California lenders who provide loans that will not jeopardize a Proposition 58 approval. We are able to lend directly to a trust and do not require a personal guarantee.

Commercial Loan Corporation has a track record of success. We work with a California Property Tax Consultant who has over 15 years of experience working in the California Tax Assessors office. With his assistance we can help you solve even the most challenging cases and help you avoid a property tax reassessment. Call us at 877-464-1066 and let us help you keep a low property tax rate on an inherited home.

CALL 877-464-1066 FOR A FREE CONSULTATION

California Trust & Estate Bridge Loans

Trust and Estate Bridge Loans

Trust and Estate Bridge Loans

California Bridge Loan Financing To Trusts & Estates

Commercial Loan Corporation specializes in providing bridge loans to trusts and estates. We are one of just a handful of lenders in California that provide bridge financing to trusts. Even more importantly, we specialize in this type of lending. Often times our clients utilize our private money bridge loan financing to allow for an even distribution to be made from a trust or estate. This can be crucial when a client is trying to receive a Proposition 58 granted exclusion from property tax reassessment to preserve a parents low property tax base on inherited property.

Thanks to California Proposition 13, property taxes in California can not increase by more than 2% each year. Since property values in California historically increase at a far higher rate, retaining a parents low property tax base can be incredibly valuable. In fact, on average we save our clients $6,200 a year in property taxes by helping them avoid a property tax reassessment. Over time that savings can compound, making for an incredible benefit. If you are inheriting property from a parent and are interested in preserving their low Proposition 13 property tax base, call us at 877-464-1066 and we can help you determine how much you might be able to save by utilizing one of our bridge loans.

What Is A Bridge Loan?

A bridge loan or bridge financing is a short term loan utilized until a person or trust secures permanent financing. Bridge loans or bridge mortgages are only intended to be held for a short period of time and typically have a term between 1 and 12 months.

Many of our clients either pay our bridge loan off in full after their exclusion from property tax reassessment has been granted or will refinance the debt with a conventional mortgage once the Proposition 58 exclusion has been granted. We are also able to assist our clients with permanent financing if needed. If you, a family member or client is interest in receiving a bridge loan for a trust or estate, please call us at 877-464-1066 so that we may assist you.