Why California Families Inheriting Property Should Consider Borrowing Against An Irrevocable Trust

Trusts

Trusts and Estates

Family Trust Debt Relief, After Mom and Dad Are Gone

Life in the 2020’s in California, and the United States in general, for middle class and even affluent families, is never all smooth and easy. There are always problems to deal with, legal or economic issues… family relationship disputes, or business conflicts people bring home with them, that often causes rifts between family members…

When a parent leaving property and assets to children passes away, they still, frequently, owe expenses, they often owe money to creditors, if they were elderly prior to passing away parents frequently leave this earth owing medical fees, sometimes legal fees to their family attorney, possibly hospital and lab test expenses, even mortgage payments, and more and more frequently these days – property taxes. There might also be debts owed to other beneficiaries of the trust they are leaving behind for their heirs.

When parents leave a trust behind for their children, who now become beneficiary siblings, there is frequently not enough liquidity in the family trust estate to make pay all these debts. Getting approved for a trust loan by a trust & estate lender like, for example, Commercial Loan Corp in Newport Beach, can produce the required cash to help resolve those kinds of family debts.

Buying Out Co-Beneficiary Siblings In California

As is often the case, parents leave a home to their children, which couldn’t be purchased and duplicated in today’s market for even close to what Mom and Dad pad for it a generation ago, or what Grandma and Grandpa paid for it two generations ago.

Yet there are always more sibling beneficiaries wanting to sell off their inherited property shares after Mom and Dad pass on, than there are beneficiaries or, more likely, one beneficiary who insists on not selling out and keeping Mom and Dad’s home… the family home.

Quite often, needless to say, serious disputes may arise between siblings over a contentious lack of agreement like this, whether to sell or to retain, a family home, where so much is at stake.

Frankly, these family conflicts sometime grow so out of control that family members aren’t even able to agree on the valuated price they believe their family home to be worth! So disputes can grow even more heated and convoluted stemming from an issue like that.

Avoiding Property Tax Reassessment In All 58 CA Counties

This is where an irrevocable trust, working in conjunction with Proposition 19 (formerly Proposition 58) can make it possible for you to take advantage of a parent-to-child exclusion from current property tax reassessment… and thereby actually avoid property reassessment at present day tax rates. Saving your family from a crippling tax hike. Finally, thanks to Proposition 19, property tax exclusions can  be utilized in all 58 counties in California.

Even affluent families would feel the bite of a tax hike like this, going back two, even three generations’ worth of reassessment imposed by the County Tax Assessor, and possibly suffer serious financial impact.

A Win-Win Family Property Solution For CA Beneficiaries

All of these financial issues can obviously cause a great deal of strife and stress among family members… However, with a wise attorney around to extend sound advice, a win-win financial solution can be implemented for homeowners… and certainly for beneficiaries inheriting property from parents, who either want to sell off their inherited property shares, or who wish to buyout siblings and minimize property reassessment — keeping a low property tax base when inheriting a home.

Frequently, this shows up in the form of an irrevocable trust,  which, working in concert with Proposition 19, will provide a buyout solution where a sibling beneficiary insisting on keeping a family home can buyout siblings looking to sell their inherited property shares, and, at the same time, can certainly minimize property reassessment, through a parent-child exclusion.  In fact, these days, most eligible California homeowners are moving quickly on  new CA property tax relief opportunities — to avoid triggering property reassessment.

Most Californians can avoid property tax reassessment, if they remain alert, with the right to a property tax transfer, to transfer parents property taxes and keep parents property taxes basically forever, upon inheriting property taxes from Mom or Dad with a parent-child transfer, with the help of an estate & trust lender… and possibly an estate attorney specializing in property tax relief, both who can help a family minimize reassessment rapidly and without any issues, if they correctly use Prop 19 property tax breaks.

Plus, siblings selling out their shares will end up with an extra $14,000 or $15,000 in their pocket, as opposed to doing the sale though a realtors, being impacted by their standard 6% realtor commission… and who knows what other fees and ancillary charges also being imposed on them as well. Peace and quiet will descend on the family… with every sibling getting what the want, in a genuine win-win family transaction… Not lip-service, mind you – but the real thing!



Claim for Reassessment Exclusion

Loans to trusts and Proposition 19

Loans to trusts and Proposition 19

As we all now know, new tax law in California, impacting the parent-to-child exclusion and grandparent-to-grandchild exclusion to legally avoid property tax reassessment, became active 2/06/21.  The “base year value transfer provision” went into affect 4/01/22. The State Board of Equalization (BOE), along with the CA Assessors’ Association, established seven new forms for County Tax Assessors…

Forms to deal with new property tax laws:

1) BOE-19P, Claim for Reassessment Exclusion for Transfer Between Parent and Child Occurring on or After Feb 16, 2021

2) BOE-19G, Claim for Reassessment Exclusion for Transfer Between Grandparent and Grandchild Occurring on or After Feb 16, 2021

3) BOE-19B, Claim for Transfer, Base Year Value to Replacement Primary Residence for Persons at Least Age 55 Years

4) BOE-19C, Certification of Value by Assessor for Base Year Value Transfer
  
5) BOE-19D, Claim for Transfer, Base Year Value to Replacement Primary Residence for Severely Disabled Persons

6) BOE-19DC, Certificate of Disability

7) BOE-19V Claim for Transfer of Base Year Value to Replacement Primary Residence for Victims of Wildfire or Other Natural Disaster

Remaining excluded from property reassessment

The transfer of what lawyers and trust lenders now call a “principal residence” or “primary residence” between a parent and child can be excluded from property reassessment… Meaning reassessment which would increase property taxes significantly – if the fair market value, meaning current valuation, of an inherited “family home” on the date of transfer – is less than the “sum of the factored base year value” plus $1,000,000.

So if the current or “fair market” value of an inherited family home (on the date it’s transferred) goes over the sum of the “factored base year value” plus $1,000,000 – the amount that is over this sum amount will always be added onto the so-called factored base year value.  Unless these new Prop 19 tax laws are repealed. But for now, that is the way things are. 

And with the help of a good trust lender and estate attorney… we can  make good use of the popular Proposition 58 property tax breaks, transferring property taxes in California under Proposition 19; taking full advantage of the useful (albeit now-limited) CA property tax transfer, in order to transfer parents property taxes to legally avoid property tax reassessment when inheriting property taxes through a parent-child transfer or parent to child property tax transfer, otherwise known as a California parent to child exclusion from property tax reassessment – to retain inherited property, and at the same time keep parents property taxes intact.                 

Deadline to Submit Documentation

The form “Claim for Reassessment Exclusion for Transfer Between Parent and Child” which occurred on or after Feb 16, 2021 has to be completed and filed as of 3-years from the purchase or transfer of an inherited property – or before the transfer of that property to a 3rd party. Or whichever is sooner.

So if the claim form hadn’t been completed and filed by or after Feb 16, 2021, it will have to be filed inside of 6-months after the date of mailing of the notice of “supplemental” or “escape assessment” for the property.

If a claim isn’t filed in this manner, the exclusion will be approved but starting with the calendar year in which the claim is filed.  We realize this is a bit daunting, perhaps confusing to some… however your attorney or trust lender will explain exactly how this all works in detail.

Proper Transfree Forms

Also, a “transferee” must complete and file a Claim for Homeowner Property Tax Exemption (BOE‐266) or Claim for Disabled Veteran’s Property Tax Exemption (BOE‐261‐G) within one year from the date of property purchase or transfer.

For transfers that were implemented before Feb 16, 2021, you have to use the Claim for Reassessment Exclusion for Transfer Between Parent and Child form (BOE‐58‐AH).

If you require assistance obtaining a loan to a trust, please complete the following form or call 877-464-1066 to speak to a qualified Trust Loan representative.

What Are the Crucial CA Proposition 19 Property Tax Benefits?

CA Property Tax Benefits, 2022 Onward

Despite confusing, often deceptive messaging, designed at all  costs to get Proposition 19 voted into law in The Golden State of  California – it’s clear to most Californians that Proposition 19 property tax breaks really will increase property tax relief measures for homeowners over age 55, plus add exclusions from  property taxes for homeowners who are victims of wild-fires and other natural disasters – plus homeowners who are seriously disabled. 

Despite a little juggling with the facts, the slick promotion to get this tax measure voted into law, with attractive promises of improved tax exemptions… it did in fact appear to be a legitimate, believable package of property tax relief benefits for residents of the state of California — as long as you ignored the fine print.

What used to be Proposition 60 (voted into law in 1986, the same year Proposition 58 was passed), helped homeowners over 55 to sell their house and move into another home valuated at the same amount or less – in the same county – maintaining a low property tax base… This has been rolled into Proposition 19, and can be taken at face value… as long as the  California State Board of Equalization (BOE) continues to function as a non-political, fact-based source of CA property tax info – which, according to experts and state economists, it does appear to be doing. 

Experts Weight in on Proposition 19

Gaye Chun, the City National Bank wealth planner confirms, telling us: “The idea was to make it easier for seniors to move without worrying about a huge jump in their property tax bill that might be difficult for them to pay.”

Bruce M. Macdonald, an attorney with Carico Macdonald Kil & Benz LLP in El Segundo, CA agrees, stating, “If someone over 55 sold a house for $5 million, but they were paying taxes on a lower assessed value based on their original purchase price, they could buy a new house for $2 million and still pay taxes at their original, lower tax assessment.” No doubt, a truly significant improvement to a tax hike reflecting current or “fair market” property reassessment.

Tax Assessments and Property Tax Breaks in California

Property taxes are typically based on assessed value rather than current fair market value.  In most states, tax assessments are conducted every one to five years and are not changed when a property is sold or transferred as a gift or inheritance.

In California, to everyone’s relief, property tax relief measures have been voted into law to limit tax assessed value of property, as well as capping property tax rates, plus enabling beneficiaries inheriting property from parents to avoid high property tax reassessment – establishing a low property tax base right away, when inheriting a home from parents.

Much has been said about property tax relief on the critical side, by realtors and high net worth business people that benefit from tax increases… However, if you talk to working families, middle class Californians, and even upper middle class homeowners – you will hear nothing but praise for property tax relief laws such as Proposition 13, passed in 1978; and Proposition 58, passed in 1986 – enabling middle class families to avoid CA property reassessment… making tax breaks available to homeowners and beneficiaries such as property tax transfer; with the ability to transfer parents property taxes when inheriting property while keeping a low property tax base; with the right to keep parents property taxes basically forever… inheriting property taxes without issue from Dad or Mom whenever they pass. 

Giving beneficiaries the ability to avoid CA property reassessment through parent to child transfer and a parent-to-child exclusion is a major asset to middle class residents in California; as well as being able to  take advantage of Proposition 19, in conjunction with a loan to an irrevocable trust to buyout siblings’ share of inherited property – keeping a close eye on mistakes to avoid when transferring a property tax base.  Now, the ability to avoid CA property reassessment and other property tax relief  benefits are under serious threat.  

All of  this was planned, launched and protected by Howard Jarvis and his famous  Taxpayers Association, as well as others who joined in the effort beginning in the mid 1970s, when property tax increases were basically out of control… often forcing elderly widows and others living on a fixed income, literally onto the street with their furniture piled up around them on the sidewalk!

Not the way anyone with a conscience would want elderly Californians to end up, in the Autumn of their life – simply to benefit a few real estate firms who will make more money from increased sales (with more homes for sale due to increased inability to pay rising taxes), with the CA Legislature piling up tax revenue higher and higher as property tax revenue increases. Perhaps helpful to a few in the short term… but with dire consequences in the long term for the entire state.

Experts Weigh In on CA Property Tax Relief

“In 1978, California voters approved Prop. 13, a constitutional amendment known as ‘The People’s Initiative to Limit Property Taxation’ that was meant to protect older residents who were unable to keep up with large property tax increases”, Gaye Chun tells us; and adds, “Several propositions since then have tinkered with property taxes.”

Homeowners who plan to transfer their residence to their children now or as part of their inheritance should seek professional advice, so they understand the impact of the new property tax rules”, asserts Bruce Macdonald, the well known attorney in El Segundo.

Current changes in property tax rules could be significant for some families, because it’s not that unusual in California to have a house that was assessed at $150,000 when the parents bought it, to be worth $5 million 40 years later,” Mr. Macdonald, Esq. explains; adding, “When the kids could inherit their parents’ house at the assessed value of $150,000, the property taxes would be approximately $1,500. Now, if the house is assessed at $5 million, that would incur a significantly higher tax bill!”

Experts in California tell us that this points to all the more reason for repealing Proposition 19… as well as adding more concrete protections to keep Proposition 13 safe from anti-property-tax-relief realtors and the politicians that are firmly in their pocket.

Understanding New Prop 19 Rules & Calculating Taxable Value

California Proposition 19 Property Tax Transfer

California Proposition 19 Property Tax Transfer

Parent-to- Child and Grandparent-to-Grandchild Transfers

Prop 58 & Prop 193 allowed parents, and in certain qualified cases grandparents, to transfer their existing property assessments of a “principal” or “primary” residence of any value  without  triggering property reassessment, which is generally required upon a change in ownership – even when real property was used as a rental property by [offspring] beneficiaries.

Prop 58 & Prop 193 enabled assessments of inherited residential or commercial property up to $1,000,000 – covering additional real estate being gifted to, or inherited by, an heir.

Now, under CA Proposition 19 (as of Feb 16, 2022), parents and grandparents can leave their home, with Proposition 13 base year value intact, to their children or grandchildren – as long as inherited property was the primary residence of the parents or grandparents – as well as the primary residence of  the beneficiaries moving into the home that is now being inherited…

Moreover, a beneficiary has plenty of time to move into an inherited home as a primary residence (12 months), plus a good deal of time to file a Homeowners’ Exemption (one year) to qualify for a parent-child or  exclusion.

A Prop 19 exclusion from reassessment of a primary residence of  a parent or grandparent, keeping a low property tax base when inheriting a home, plus all updated requirements, qualify beneficiaries for these types of base-year-value transfers; avoiding property tax reassessment and enabling these new homeowners with the right to transfer property between siblings through a loan to an irrevocable trust; plus all the usual property tax relief bells & whistles that go along with property tax transfer. 

Naturally, this includes the right to transfer parents property taxes and keep parents property taxes by inheriting property taxes generally through a parent-child transfer and parent-to-child exclusion (from paying currently reassessed property taxes).


Selling An Old Home – Distributing Cash Equally Among Heirs

A trust loan from a trust lender, to create equal cash distribution for co-beneficiaries looking to sell off their inherited property, can help those beneficiaries  become sole primary owners of an inherited residence.  Moreover, a primary residence homeowner in California over age 55 can transfer a low property tax base to a “replacement residence” (that is also a primary abode).

In order to qualify for a CA Prop 19 exclusion from reassessment (of your property taxes) – at the same time keeping your parents’ low property tax base – distribution of your trust funds to all beneficiaries have to be equal… especially when it comes to beneficiaries that are selling their inherited property shares to a co-beneficiary inheriting the same property. Each sibling must get the same amount whether it is cash, equity or other assets – to qualify for a Prop 19 exclusion from reassessment.

Many times the trust or estate will not have enough cash or other assets to make an equal distribution.  In these situations the trust or estate can borrow the money from a third party (not the person taking the property) and use the loan proceeds to pay off the other siblings’ share.

A Commercial Loan Corp Trust Loan Calculator will demonstrate “how long it will take for the property tax savings to cover the costs of a loan from a third party. One needs to be fairly certain they will live in the home longer than the time it takes to break-even on third party loan costs or have a plan to transfer the low tax base to another property after the sale of the parents’ home.”

Time is Ripe to Become Better Acquainted With the Parent to Child Property Tax Transfer

California Parent to Child Property Tax Transfer

How to Obtain the California Parent to Child Property Tax Transfer


Avoiding Property Tax Reassessment & Property Tax Hikes


It is our consensus that normal middle class class residential owners, upper middle class home owners and working families, none of whom are generating a huge income at the moment, should most likely not be supplying the California state government with extra property tax revenue right now. 

This is especially true during a financial crisis such as the Covid predicament we find ourselves in during 2021… where revenue is tight all over the country, especially in California, with only a few exceptions here and there – where in general unemployment, as well as under-employment, is extremely high.

Regular middle class and upper middle class homeowners need to be saving money, and spending less, not spending more. Certainly not spending more on housing or standard goods and services, or on income tax or property taxes. We’re not talking about luxury goods or high-end services. That is specific to folks with disposable income, and is an entirely different matter altogether. 

As a matter of fact, property taxes are the one big-ticket item just mentioned that is easily lowered, or paused, or even deferred.   And if this never occurs, then property owners are going to have to be more cognizant of related details and new tax laws, as well as  new ways to avoid property tax reassessment – and tax specialists or real estate experts that are available in California to help with these matters.

Middle Class Property Tax Savings

When times are hard, as they are now, the state should help residents with key information on property tax breaks, helping property owners take full advantage of established property tax breaks, like the new Proposition 19 parent-to-child transfer and parent-to-child exclusion from reassessment of property taxes.

And this means not spending more on taxes when times are hard. Certainly, property owners should all be better informed about inheriting property taxes, and Prop 19 parent-to-child exclusion; about property tax breaks, and being able to transfer parents property taxes, with the right to keep parents property taxes on every property tax transfer.

Owning a Home is Part of the American Dream

Purchasing or inheriting a home is part of the classic American dream, and leaving part of that dream to heirs or beneficiaries is something most of us would be proud of.  However, fluid, ever-changing and complicated  property tax laws have to be kept up with, either by ourselves, or through specialists that make a living helping property owners with issues like property taxes.  

Getting expert property tax advice and estate planning advice can help save that dream, and help sustain good family financial practices for generations to come, where your home and other big ticket investments are concerned. 

Genuine Property Tax Relief

The property tax breaks middle class and upper middle class Californians are holding on to are the only safety-net solutions middle class residents have in this state, so the Legislature should be focusing on preserving and strengthening those tax breaks, and on educating and informing Californians about establishing a low tax base for trust beneficiaries; about Prop 19 parent-to-child exclusion and Proposition 19 – parent to child property tax transfer on an inherited home; plus Proposition 13 property tax transfers, as well as the Proposition 19 impact on CA homeowners, and avoiding property reassessment wherever possible – not on obsessively driving more tax revenue, under cloaked measures called “property tax relief” that are merely tax deferments.

Even when it means a little less property tax revenue going into their coffers, it shouldn’t matter to the state government.  In the long run, helping to preserve working families’ financial health and helping them to pay less property taxes, thereby building up more savings, will drive greater property tax revenue to the state, as more people will own homes and pay taxes!  This is what the Legislature would see if they saw long term rather than short term. 

All middle class Californians should be able to depend on secure, authentic property tax relief – like wealthy folks and corporations have in every state in America. Why should only the wealthy enjoy genuine tax cuts and real property tax breaks?

Inheriting Property While Keeping a Low Property Tax Base

Keeping a Parents Low Property Tax Base

How tp Keep a Parents Low Property Tax Base on an Inherited Home

2020–2021 Slowest Growth Rate in California’s History, While Real Estate Values Soar

As average sale prices of single-family homes in California approaches $800,000 the state’s population fell by more than 182,000 people, to less than 39.5 million people in 2020; signaling the first year America’s most populated state experienced such a slow growth rate, abc7.com tells us. As experts and analysts continue to debate the reasons why… 

Economic Conditions in California Call for Property Tax Relief, Not Tax Hikes

In May, 2021 Adam Beam from ABCnews.go.com & Associated Press told us, “In recent years, more people have left California for other states than have moved there, a trend Republicans say is a result of the state’s high taxes and over-prices real estate. The average sale price of a single-family home in California hit a record $758,990 in March, a 23.9% increase from a year ago.” (2)

Ben Christopher at CalMatters.com declared on May 7, 2021 that “The number of Californians declined in 2020 for the first year since at least 1900. The COVID-19 pandemic has done what more than a century of past plagues, recessions, crime waves, droughts and earthquakes couldn’t. It shrank California’s population.” 

“The numbers don’t lie. People are leaving our state because it’s not affordable to live here…” tweeted Mr. Kevin Faulconer, former mayor of San Diego. Without knowing it, they are all correct. 

Property Tax Specialists in California Are Trying to Make a Difference – to Help Residents

To help middle class families that have been impacted by these problems, several financial services companies have been focusing on lowering property taxes for new homeowners and beneficiaries of trusts and estates – Commercial Loan Corporation in Newport Beach, who is offering a free consultation to residents on transferring parents property taxes to keep a low property tax base on an inherited home.

Trust lenders help families get approved to work with tax measure Proposition 58 and 19. They originate loans to estates and irrevocable trusts; allowing beneficiaries who are inheriting real estate and liquid assets to buyout inherited real property from co-beneficiaries; equalizing distribution of funds to beneficiaries who are selling.

Working With CA Proposition 58

CA Proposition 58 was approved by voters on Nov. 6, 1986, as a constitutional amendment; excluding from reassessment transfers of real property between parents and their children, typically  transferring parents property taxes – providing a loan directly to a trust, thereby avoiding any risk of triggering property tax reassessment. Loan proceeds are then used to pay off beneficiaries who are selling their real estate assets in line with a parent-child transfer, or “parent-child exclusion”.

Oddly enough, funding through a trust helps co-beneficiaries receive more cash than they are likely to receive from a buyer directly. The title of the property can then be transferred from the name of the trust into the name of the beneficiary who is retaining inherited property.

Utilizing Prop 58, Prop 19 & Trust Loans to Resolve Cash Flow and Family Property Conflicts

Property tax relief oriented firms in California are now working more closely with families inheriting property, alongside their attorney, or family accountant – assisting co-beneficiaries to avoid property tax reassessment at current market rates.  Beside sibling to sibling property transfer, families these days need to get as familiar as possible with their right to be transferring parents property taxes when inheriting a home and while subsequently inheriting property taxes.  Middle class families’ ability to keep parents property taxes and the property tax transfer process in general should be second nature to all middle class families. 

Frankly, all working families and beneficiaries in California should take full advantage of a free consultation from a trust lender like Commercial Loan Corp, in terms of transferring parents property taxes to save money on property taxes; plus resolving sibling conflicts over keeping or selling inherited property, with respect to how much a family can expect to save on property taxes, this year and every year thereafter!  Families can look at saving $6,000 and up every year in property taxes.

A loan to an irrevocable trust allows beneficiaries to keep an inherited home with their parent’s low Prop 13 tax base, while beneficiaries who prefer to sell receive an equal portion of cash, in fact a good deal more than an outside buyer would typically offer.

It’s also important to note that a good trust lender will help beneficiaries learn exactly how to take advantage of Proposition 19 or Proposition 58 to avoid property tax reassessment.  And by avoiding expensive realtor fees, beneficiaries on average receive an additional $15,000; and those keeping inherited property save an average of $6,200 per year in property taxes. 

CA Property Tax Specialists Clarify Their Process

Tanis Alonso, account manager at Commercial Loan Corp, discussed trust loan solutions in a 2021 interview with this blog – with respect to selling an inherited home versus keeping it. She told us:

We don’t view each trust loan as simply a ‘financial transaction.’ Nor do we see the home they’ve lived in for decades as just a ‘piece of real estate’. To us, this a ‘piece of family history’ in the making. And the process a ‘family decision,’ not a ‘transaction’. We see our clients as real families we’re assisting, financially and emotionally, not just as clients signing a contract for a trust loan. We enjoy helping people… getting them money when they really need it – saving them on the cost side in the bargain, with a trust loan.

Ms. Alonso also elaborates on the firm’s process: Besides lowering property taxes the key issue for families is selling as opposed to keeping inherited property. By someone keeping the family property, everyone receives more money than if they were to sell the property to an outside buyer. Because with a loan to a trust there is the upside of less expense. We’re talking about much less expense than would normally be involved in a house sale. Again, a process compensating beneficiaries through a trust loan, instead of a house sale or coming up with the cash yourself… versus a formal house sale through a realtor that would cost ten times the amount to process the entire scenario, a house sale, with realtor commission and fees, taxes, ancillary costs, etc…

Trust Lenders and the CA Parent-Child Exclusion 

By and large, trust lender terms can be a lot more flexible than an institutional lender like Wells Fargo or Bank of America if they are self funded, which few are. They can extend easier terms to clients. Commercial Loan Corp is one of the few self-funded trust lenders with parent-child exclusion expertise, which is why I deal only with them, when my clients need a large loan to buyout property form siblings, and establish a low property tax base going forward.

Compliance for commercial and residential property owners is far less strict with them, due to their being self funded. They don’t charge any fees up-front, another great benefit. Plus, they don’t require paying loan interest in advance. Most trust lenders do.

There is never a “due-on-sale” clause… that requires the mortgage to be repaid in full when sold; or that all or some of the interest owed must be paid up-front to secure the mortgage. No “alienation clause” during property transfer, stating that the borrower has to pay back the mortgage in full before transferring property to another person. It’s fast, 5 to 7 days; and all costs are offset. It makes more sense for new homeowners, and beneficiaries, to take this trust loan approach … when inheriting property from parents.” 

We couldn’t have expressed it more clearly ourselves!

If you need assistance with a trust loan or questioned answered regarding if you might be able to keep a parents low property tax base on an inherited home, we recommend you contact Commercial Loan Corporation at 877-756-4454.