Usa Real Estate Investment Trust 10-Q 9 Dec 13 2013 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2013	Dec. 09, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'USA REAL ESTATE INVESTMENT TRUST /CA	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	15,788
Amendment Flag	'false	'
Entity Central Index Key	'0000803771	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	31-Mar-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q1	'

Condensed_Balance_Sheets_Curre

Condensed Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Assets	'	'
Real estate loan	$0	$0
Cash	729,918	788,469
Other assets	230,000	230,000
Total assets	959,918	1,018,469
Liabilities:	'	'
Accounts payable	12,019	1,303
Total liabilities	12,019	1,303
Shareholders' equity:	'	'
Shares of beneficial interest, par value $1 per share; 62,500 shares authorized; 15,798 shares outstanding	15,798	15,798
Additional paid-in capital	26,173,534	26,173,534
Distributions in excess of cumulative net income	-25,241,433	-25,172,166
Total shareholders’ equity	947,899	1,017,166
Total liabilities and shareholders’ equity	$959,918	$1,018,469

Condensed_Balance_Sheets_Curre1

Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2013	Dec. 31, 2012
Shares of beneficial interest, par value (in Dollars per share)	$1	$1
Shares of beneficial interest, shares authorized	62,500	62,500
Shares of beneficial interest, shares outstanding	15,798	15,798

Condensed_Statements_of_Operat

Condensed Statements of Operations (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Revenues:	'	'
Interest income	$435	$0
Expenses:	'	'
Operating	0	3,595
Impairment of other assets	8,652	0
General and administrative	61,051	65,369
Total expenses	69,703	68,964
Net loss	($69,268)	($68,964)
Net loss per share (in Dollars per share)	($4.38)	($3.83)
Weighted-average number of shares outstanding (in Shares)	15,798	18,007

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($69,268)	($68,964)
Adjustments to reconcile net loss to net cash used in operating activities	'	'
Impairment of other asset	8,652	0
Changes in operating assets and liabilities:	'	'
Increase (decrease) in accounts payable	11,717	-11,767
Net cash used in operating activities	-51,889	-80,731
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Advance to related party	-8,652	-51,176
Net cash used in investing activities	-8,652	-51,176
NET DECREASE IN CASH	-58,551	-131,907
CASH AT BEGINNING OF PERIOD	788,469	718,198
CASH AT END OF PERIOD	$729,918	$586,291

Note_1_Organization_and_Summar

Note 1. Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2013
Accounting Policies [Abstract]	'
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	'
	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	GENERAL: USA Real Estate Investment Trust (the "Trust") was organized under the laws of the State of California pursuant to a Declaration of Trust dated October 7, 1986. The Trust commenced operations on October 19,1987, upon the sale of the minimum offering amount of shares of beneficial interest. The Trust is a self-administered, self-managed, real estate investment trust.The interim unaudited financial statements of the Trust have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the SEC).  Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. The Trust believes that the disclosures are adequate to make the information presented not misleading. These interim financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Trust’s 2012 Annual Report on Form 10-K. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Trust’s financial position at March 31, 2013 and December 31, 2012, and the results of its operations for the three month interim periods ended March 31, 2013 and March 31, 2012 and its cash flows for the three month interim periods ended March 31, 2013 and March 31, 2012 have been included.The results of operations for interim periods are not necessarily indicative of results for the full year.

Note_2_Commitments_and_Conting

Note 2. Commitments and Contingencies	3 Months Ended
	Mar. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	2. COMMITMENTS AND CONTINGENCIES
	The Trust is involved in claims and legal proceedings and it may become involved in other legal matters arising in the ordinary course of business. The Trust evaluates these claims and legal matters on a case-by-case basis to make a determination as to the impact, if any, on its business, liquidity, results of operations, financial condition or cash flows. The Trust currently believes that the ultimate outcome of these claims and proceedings, individually and in the aggregate, will not have a material adverse impact on its financial position, results of operations or cash flows. The Trust’s evaluation of the potential impact of these claims and legal proceedings on its business, liquidity, results of operations, financial condition and cash flows could change in the future.

Note_3_Fair_Value_Measurements

Note 3. Fair Value Measurements and Other Financial Measurements	3 Months Ended
	Mar. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	3. FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL MEASUREMENTS
	The Trust has no financial instruments accounted for at fair value on a recurring or non-recurring basis. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:
	Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity can access as of the measurement date.
	Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.
	Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.
	The carrying values and fair values of the Trust’s other financial instruments were as follows:
				31-Mar-13				31-Dec-12
		Level		Carrying		Fair		Carrying		Fair
				value		value		value		value
	Cash		1	$	729,918	$	729,918	$	788,469	$	788,469
	Accounts payable		2		12,019		12,019		1,303		1,303
	There were no transfers between Level 1 and Level 2 during 2013 or 2012.
	The following methods were used to estimate the fair values of other financial instruments:
	Cash and accounts payable. The carrying amounts approximate fair value because of the short maturity of the instruments. The fair value amounts for Cash were classified in Level 1 of the fair value hierarchy. The fair value amounts of Accounts payable were classified in Level 2 of the fair value hierarchy.

Note_4_Related_Party

Note 4. Related Party	3 Months Ended
	Mar. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	4. RELATED PARTY
	During the three months ended March 31, 2013, the Trust advanced $8,652 to West Coast Realty Trust, Inc., a related party (“WCRT”). As of March 31, 2013, the Trust has advanced a total of $825,934 to WCRT in connection with WCRT’s formation and proposed initial public offering and is expected to be repaid without interest at the closing of WCRT’s proposed initial public offering. Of this advance, $230,000 relates to fees paid to Aviva Life and Annuity Company for a planned mortgage refinance. The mortgage refinance was completed subsequent to March 31, 2013 and WCRT remitted $230,000 to the Trust in June 2013. WCRT’s proposed initial public offering has been delayed and collection of the advance is uncertain. As such, the Trust recorded impairment charges of $8,652 and $587,282 in the statement of operations for the three months ended March 31, 2013 and the year ended December 31, 2012, respectively. The advance is reflected as “Other assets” on the accompanying balance sheet and recorded at $230,000 at March 31, 2013 and December 31, 2012.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2012
Accounting Policies [Abstract]	'
Cash and Cash Equivalents, Policy [Policy Text Block]	'
	with the audited financial statements and notes thereto included in the Trust’s 2012 Annual Report on Form 10-K. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Trust’s financial position at March 31, 2013 and December 31, 2012, and the results of its operations for the three month interim periods ended March 31, 2013 and March 31, 2012 and its cash flows for the three month interim periods ended March 31, 2013 and March 31, 2012 have been included.The results of operations for interim periods are not necessarily indicative of results for the full year.

Note_3_Fair_Value_Measurements1

Note 3. Fair Value Measurements and Other Financial Measurements (Tables)	3 Months Ended
	Mar. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value, by Balance Sheet Grouping [Table Text Block]	'
				31-Mar-13				31-Dec-12
		Level		Carrying		Fair		Carrying		Fair
				value		value		value		value
	Cash		1	$	729,918	$	729,918	$	788,469	$	788,469
	Accounts payable		2		12,019		12,019		1,303		1,303

Note_1_Organization_and_Summar1

Note 1. Organization and Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2012
Accounting Policies [Abstract]	'
New Accounting Pronouncement or Change in Accounting Principle, Name	'Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted.

Note_3_Fair_Value_Measurements2

Note 3. Fair Value Measurements and Other Financial Measurements (Details) - Carrying Values and Fair Values of Other Financial Instruments (USD $)	Mar. 31, 2013	Dec. 31, 2012	Mar. 31, 2012	Dec. 31, 2011
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'	'
Cash	$729,918	$788,469	$586,291	$718,198
Accounts payable	12,019	1,303	'	'
Fair Value, Inputs, Level 1 [Member]	'	'	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'	'
Cash	729,918	788,469	'	'
Cash	729,918	788,469	'	'
Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'	'
Accounts payable	12,019	1,303	'	'
Accounts payable	$12,019	$1,303	'	'

Note_4_Related_Party_Details

Note 4. Related Party (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2013	Mar. 31, 2012	Dec. 31, 2012
Note 4. Related Party (Details) [Line Items]	'	'	'
Other Assets	$230,000	'	$230,000
Asset Impairment Charges	8,652	0	587,282
West Coast Realty Trust [Member]	'	'	'
Note 4. Related Party (Details) [Line Items]	'	'	'
Related Party Transaction, Amounts of Transaction	8,652	'	'
Due from Related Parties	825,934	'	'
Other Assets	$230,000	'	'