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04-23-2020, 12:49 PM #1
- Join Date
- Jun 2015
- Location
- San Diego, California
- Posts
- 40
Estate Loans to Buyout Siblings
North Coast Financial provides estate loans to buyout siblings in California. Beneficiaries of an estate often need to divide interest in a piece of real estate. One sibling may want to keep the property while other siblings may want to sell the property or just receive cash in exchange for their interest. An estate loan provides a solution with the needed liquidity to pay off siblings.
The estate loan proceeds are provided directly to the estate's bank account. The funds can then be distributed from the estate to the siblings who wanted the buyout. Once the siblings selling their interest in the inherited property have received their funds, they no longer have an interest in the real estate. The title of the property can now be transferred from the estate to the sibling who is keeping the property. This type of loan transaction is also known as a Prop 58 loan, which helps exclude a property tax reassessment on parent to child transfers.
North Coast Financial, Inc.
2424 Vista Way #202
Oceanside, CA 92054
760-722-2991
jeff@northcoastfinancialinc.comLast edited by North Coast Financial; 04-23-2020 at 01:07 PM.
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