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Updated over 2 years ago on . Most recent reply

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64
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23
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Chris Morris
  • Los Angeles, CA
23
Votes |
64
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Property title in trust. Getting HELOC requires taking it out?

Chris Morris
  • Los Angeles, CA
Posted

My living trust is on my home's title. In the past, when I have refinanced, the property had to be taken out of the trust and then immediately put back into the trust. If I get a HELOC, will the same thing happen?

context: if the property is taken out of the trust, even if only to be put right back into it, that is considered a change of ownership. My home can only be exempted from the Los Angeles RSO (Rent Stabilization Ordinance) after it has not changed owners for 3 years.

Most Popular Reply

User Stats

64
Posts
23
Votes
Chris Morris
  • Los Angeles, CA
23
Votes |
64
Posts
Chris Morris
  • Los Angeles, CA
Replied

Wanted to follow-up here. I was able to get a HELOC w/ PNC and keep the property in the trust.

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