Pamana Loan
Pamana Loan or EJSE (Extra-Judicial Settlement of Estate)
Losing someone close to us is never easy. It can be a time of tremendous grief and stress, especially if you’ve been left with the responsibility to manage their estate. If you are one of the heirs of an estate, there may be a lengthy probate process before you can access your inheritance.
This process can take anywhere from several months to a year or more. During this time, you may find yourself struggling financially and needing access to your inheritance sooner than the probate process allows.
What is Pamana Loan?
If you have an inherited Real Estate Property, but do not have the funds to become a legitimate registered owner or if you want to use your inherited Real Estate Property but it is currently in the name of the deceased this type of loan is right for you.
Inheritance loans or Extrajudicial Settlement of Estate Loan is a type of loan specifically designed to help you access the value of your inheritance without having to go through all the steps involved in probate, which can be expensive and time-consuming.
This loan provides you with immediate access to funds so that you can use them for whatever purpose you choose, such as renovating or developing an inherited Real Estate property.
It can also help you pay any costs associated with the change in ownership of your inherited property, such as transfer taxes and registration fees – the good thing is, there’s no cashout involved, so you can keep your inheritance safe without having to liquidate it.
How Does this Work?
With this type of loan, the entire process is simplified and made easier for you by Trans Phil Credit. All you need to do is provide proof of your inheritance in order to qualify for the loan.
The funds are usually released within 10-14 days after approval, giving you the opportunity to quickly take advantage of your inherited Real Estate Property and make it into something more.
The loan amount is based on a percentage of the value of the Real Estate property and evidence that you are the rightful heir or beneficiary.
The repayment terms can take up to 5 years, with 3% interest per month.
Extrajudicial Settlement of Estate Loan solves the problem of having to wait for probate to be completed in order to access and use your inherited assets.
Frequently Asked Questions
Apply for a Pamana Loan today!
Requirements:
Title
Tax Declaration
Application Form
Valid IDs
Apply for a Pamana Loan today!
Requirements:
Title
Tax Declaration
Application Form
Valid IDs
