What is a Probate Loan? A Probate Loan is a loan to a fiduciary, secured by real property in California. A fiduciary is the administrator or executor of an estate. This person is acting on behalf of a decedent (deceased person). These loans are often useful to help pay for attorney’s fees or to effectuate […]
What is a Trust Loan? Two years ago, at least two-thirds of the loans our company serviced were Probate Loans. As a society, families have become more aware of the value of structuring assets in a trust. Thus, today, over two-thirds of our loans are Trust Loans. A Trust Loan is a loan to a […]
In my business of arranging loans to trusts and estates, I often make loans in order to eliminate the Property Tax Reassessment Event when the transfer of real property is between parents and children or grandparents and grandchildren. A common strategy to prevent a property tax reassessment event, and the resultant higher property tax, is […]
In my business of arranging loans to trusts and estates, I tend to find numerous trusts and estates in the process of selling real property. Many of the properties have liens and mortgages and have been physically neglected. First Probate Loans now offers a junior position, straight note of less than 12 months to assist […]
In my business of arranging loans to trusts and estates, I pay off a significant number of reverse mortgages. As more seniors turn to reverse mortgages, surviving spouses or adult children become overwhelmed when one or both of their parents eventually dies. When a reverse mortgage borrower dies, the loan becomes due and payable; and, […]
Working with fiduciaries and their attorneys to borrow on behalf of trusts and estates is no small matter, with complex probate, national and local real property finance lending laws. The intricacies of dealing with title companies and the three types of title reports are key to the process.
The importance of protecting an investment such as a home – the largest single financial investment many people will ever make – cannot be overestimated. Understanding the role the title company plays in that purchase is important for homeowners and professionals alike.
In California, understanding the Foreign Investment in Real Property Tax Act (FIRPTA) of 1980 can be helpful for professionals in the industry. The IRS provides a comprehensive, yet concise, summary of the act, and includes the following information. You’ll never have a question again!
We know that people who commit fraud often target and exploit senior citizens. Want to avoid being a victim of fraud? Check out the great list of specific tips the California Bureau of Real Estate has issued. They’re designed for seniors to use in protecting themselves against fraud in the area of real estate.
Effective Jan. 1, 2015, will be a new disclosure requirement important to understand. Here’s a brief summary.
The amount of documentary transfer tax and the location of the property will be required to be shown on the face of all recorded documents that are transferring property.
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