We are moving to a new family home. I would like to sell my existing family home which is owned by family trust to LTC, the aim is to get the equity out of the existing family home.
If the house has a market value of 500K, can I sell it to my LTC for 500K, borrow from bank 400K, and record the 100K as a loan from family trust to LTC.
Or should I just sell the house to LTC at 400K?
If the house has a market value of 500K, can I sell it to my LTC for 500K, borrow from bank 400K, and record the 100K as a loan from family trust to LTC.
Or should I just sell the house to LTC at 400K?
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