Usa Real Estate Investment Trust 10-K 25 Feb 14 2013 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Feb. 25, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'USA REAL ESTATE INVESTMENT TRUST /CA	'
Document Type	'10-K	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	0
Entity Public Float	$0	'
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-Dec-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'FY	'

Statement_of_Net_Assets_in_Liq

Statement of Net Assets in Liquidation (Liquidation Basis) December 31, 2013 - Balance Sheet (Going Concern Basis) December 31, 2012 (USD $)	Dec. 31, 2013	Dec. 31, 2012
Assets	'	'
Other assets, net	$0	$230,000
Liabilities:	'	'
Accrued liquidation costs	122,982	'
Total shareholders' equity	'	1,017,166
Liquidation Basis of Accounting [Member]	'	'
Assets	'	'
Cash	271,864	'
Total assets	271,864	'
Liabilities:	'	'
Accrued liquidation costs	122,982	'
Total liabilities	122,982	'
Net assets in liquidation	148,882	'
Going Concern Basis of Accounting [Member]	'	'
Assets	'	'
Cash	'	788,469
Other assets, net	'	230,000
Total assets	'	1,018,469
Liabilities:	'	'
Accounts payable	'	1,303
Total liabilities	'	1,303
Shares of beneficial interest, par value $1 per share; 62,500 shares authorized; 15,798 shares outstanding at December 31, 2012	'	15,798
Additional paid-in capital	'	26,173,534
Distributions in excess of cumulative net income	'	-25,172,166
Total shareholders' equity	'	1,017,166
Total liabilities and shareholders' equity	'	$1,018,469

Statement_of_Net_Assets_in_Liq1

Statement of Net Assets in Liquidation (Liquidation Basis) December 31, 2013 - Balance Sheet (Going Concern Basis) December 31, 2012 (Parentheticals) (USD $)	Dec. 31, 2013	Dec. 31, 2012
	Liquidation Basis of Accounting [Member]	Going Concern Basis of Accounting [Member]
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

Statements_of_Operations_Going

Statements of Operations (Going Concern Basis) (USD $)	11 Months Ended	12 Months Ended
	Nov. 30, 2013	Dec. 31, 2012
Expenses:	'	'
Impairment of related party receivables	$8,652	$587,282
Net loss	-142,801	-779,470
Going Concern Basis of Accounting [Member]	'	'
Revenues:	'	'
Interest income	1,010	1,542
Expenses:	'	'
Operating	'	4,745
Impairment of related party receivables	8,652	587,282
General and administrative	135,159	188,985
	143,811	781,012
Net loss	($142,801)	($779,470)
Net loss per share (in Dollars per share)	($9.04)	($46.35)
Weighted-average number of shares (in Shares)	15,792	16,818

Statements_of_Changes_in_Share

Statements of Changes in Shareholders' Equity (Going Concern Basis) (USD $)	Beneficial Interest [Member]	Additional Paid-in Capital [Member]	Accumulated Distributions in Excess of Net Income [Member]	Total
Balance at Dec. 31, 2011	$18,007	$26,355,335	($24,392,696)	$1,980,646
Balance (in Shares) at Dec. 31, 2011	18,007	'	'	'
Net loss	'	'	-779,470	-779,470
Repurchase of Shares	-2,209	-181,801	'	-184,010
Repurchase of Shares (in Shares)	-2,209	'	'	'
Balance at Dec. 31, 2012	15,798	26,173,534	-25,172,166	1,017,166
Balance (in Shares) at Dec. 31, 2012	15,798	'	'	'
Net loss	'	'	-142,801	-142,801
Repurchase of Shares	-10	-823	'	-833
Repurchase of Shares (in Shares)	-10	'	'	'
Balance at Nov. 30, 2013	$15,788	$26,172,711	($25,314,967)	$873,532
Balance (in Shares) at Nov. 30, 2013	15,788	'	'	'

Statements_of_Cash_Flows_Going

Statements of Cash Flows (Going Concern Basis) (USD $)	11 Months Ended	12 Months Ended
	Nov. 30, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net loss	($142,801)	($779,470)
Adjustments to reconcile net loss to net cash used in operating activities:	'	'
Impairment charge	8,652	587,282
Changes in operating assets and liabilities:	'	'
Increase (decrease) in accounts payable	20,139	-100,749
Net cash used in operating activities	-114,010	-292,937
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Net proceeds from the sale of real estate	'	1,786,000
Advance to related party	-8,652	-738,782
Reimbursement from related party	230,000	'
Net cash provided by in investing activities	221,348	1,047,218
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Payment of note payable	'	-500,000
Repurchase of shares of beneficial interest	-833	-184,010
Net cash used in financing activities	-833	-684,010
NET INCREASE IN CASH	106,505	70,271
CASH AT BEGINNING OF PERIOD	788,469	718,198
CASH AT END OF PERIOD	894,974	788,469
Supplemental cash flow disclosures:	'	'
Cash paid for interest	'	$85,911

Statement_of_Changes_in_Net_As

Statement of Changes in Net Assets in Liquidation (Liquidation Basis)	12 Months Ended
	Dec. 31, 2013
Statement Of Changes In Net Assets In Liquidation Liquidation Basis [Abstract]	'
Statement Of Changes In Net Assets In Liquidation Liquidation Basis [Text Block]	'
	USA REAL ESTATE INVESTMENT TRUST
	Statement of Changes in Net Assets in Liquidation (Liquidation Basis)
	For the Period December 1, 2013 to December 31, 2013
	Shareholders’ equity at November 30, 2013	$	873,532
	Liquidation basis adjustments:
	Adjust assets and liabilities to fair value		--
	Accrued liquidation costs		( 124,694	)
	Net assets in liquidation as of December 1, 2013		748,838
	Liquidation basis adjustments:
	Net revenues from December 1, 2013 to December 31, 2013		--
	Net costs from December 1, 2013 to December 31, 2013		--
	Distribution		( 599,956	)
	Net assets in liquidation basis as of December 31, 2013	$	148,882

Note_1_Organization_and_Summar

Note 1. Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 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: The Trust is a California business trust that was formed on October 7, 1986. The primary purpose of the Trust was to engage in the business of acquiring, owning, operating and financing real estate investments. The Trust commenced operations on October 19, 1987, upon the sale of the minimum offering amount of shares of beneficial interest.
	A special meeting of the shareholders of record of USA Real Estate Investment Trust (the “Trust”) was held on December 4, 2013, and the shareholders adopted a resolution for the immediate termination of the Trust and a distribution of the assets of the Trust (subject to a reserve for the costs and expenses of winding up the business of the Trust) to the shareholders of record of the Trust. After the meeting, the Trustees acted to set aside a reasonable reserve for the anticipated costs and expenses of winding up the business of the Trust, and then resolved to pay and distribute the remaining balance of the assets of the Trust to the shareholders of record on a pro rata basis according to the number of shares owned by each shareholder.
	The Trustees expect that the business and affairs of the Trust will be completely wound up and the Trust will be dissolved by the end of 2014. At that time, there will be a final accounting of the reserve described above and, if any assets of the Trust then remain, there will be another and final pro rata distribution of the remaining assets of the Trust on the same basis as the current distribution. However, if at that time there are no remaining assets of the Trust, then there will be no further distribution to the shareholders of the Trust.
	As a result of these decisions, the Trust adopted the liquidation basis of accounting as of December 1, 2013, which was the beginning of the fiscal month closest to the shareholders’ approval date. This basis of accounting is appropriate when the liquidation of an entity is imminent. Under this basis of accounting, assets and liabilities are stated at their net realizable value, and estimated costs through the liquidation date are accrued for, to the extent reasonably determinable.
	ACCRUED LIQUIDATION COSTS: Under the liquidation basis of accounting, assets are stated at their net realizable value, liabilities are stated at their estimated settlement amounts and estimated costs through the liquidation date are accrued for, to the extent reasonably determinable. The Trust is required to make significant estimates and judgments. These estimates are subject to change. The Trust reviews, on a quarterly basis, the estimated fair value of its assets and all other remaining operating expenses and contractual commitments such as professional fees and other outside services to determine the estimated costs to be incurred during the liquidation period. The Trust expects to incur liquidation costs of $124,694 through the liquidation date. Liquidation costs of $122,982 were unpaid and accrued as of December 31, 2013.
	The Trust is required to make significant estimates and exercise judgment in determining accrued liquidation costs. The Trust accrued costs expected to be incurred in liquidation and recorded payments made related to the accrued liquidation costs as follows:
	Accrued Liquidation Costs	As Booked		Adjustments		Payments			Balance at
		December 1,		To					December 31,
		2013		Reserves					2013
	Outside services	$	116,444	$	--	$	(1,712	)	$	114,732
	Trustee fees		8,250		--		--			8,250
	Total	$	124,694	$	--	$	(1,712	)	$	122,982
	On a periodic basis, the Trust reviews all other remaining operating expenses and contractual commitments such as outside services and Trustee fees to determine the estimated costs to be incurred during the liquidation period. The Trust anticipates that wind up related costs will extend through 2014 as it settles the remaining matters.
	The estimate for outside services in accrued liquidation costs was $114,732 at December 31, 2013. These costs reflect the costs expected to be incurred to wind up the Trust through 2014.
	The estimated Trustee fees in accrued liquidation costs were $8,250 at December 31, 2013. These costs reflect the fees to be incurred for the final Trustee meetings scheduled for January and February of 2014. The Trust does not expect to incur any additional Trustee fees after these meetings to wind up the Trust.
	The Trust expects to settle its liabilities through cash on hand.
	USE OF ESTIMATES: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
	CASH: Cash consists of demand deposits with financial institutions. Cash balances periodically exceeded the insurable amounts.
	DISTRIBUTIONS IN EXCESS OF NET INCOME: The Trust has a general policy of distributing cash to its shareholders in an amount that approximates taxable income plus noncash charges such as depreciation and amortization. As a result, distributions to shareholders exceed cumulative net income.
	SEGMENT POLICY: The Trust operates in one business segment. For 2013 and 2012, all revenues have been derived from domestic operations.
	REVENUE RECOGNITION: Interest income is accrued on the outstanding principal amounts of the real estate loans. When the Trust determines that a loan is impaired, income recognition is suspended if full recovery of interest and principal appears uncertain. Loan fees are recognized as interest income over the lives of the related real estate loans using the straight-line method.
	INCOME TAXES: From 1987 through 2011 the Trust was organized and operated in a manner that enabled it to be taxed as a real estate investment trust rather than a regular corporation. In 2012 the Trust was unable to maintain its status as a real estate investment trust. Accordingly, in 2012 and subsequent years the Trust will be taxed as a regular corporation.
	NET INCOME PER SHARE: Net income per share is computed based on the weighted-average number of shares outstanding.
	RECENTLY ISSUED AND ADOPTED ACCOUNTING GUIDANCE: In April 2013, the Financial Accounting Standards Board (“FASB”) issued ASU 2013-07, Presentation of Financial Statements (Topic 205)–Liquidation Basis of Accounting. These amendments require an entity to prepare its financial statements using the liquidation basis of accounting (“LBA”) when liquidation is imminent. Among the requirements of LBA financial statements is that they: (a) present relevant information about an entity's expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation; (b) include in its presentation of assets any items not previously recognized under U.S. GAAP but that it expects to either sell in liquidation or use in settling liabilities; (c) recognize and measure an entity's liabilities in accordance with U.S. GAAP that otherwise applies to those liabilities; and (d) disclose an entity's plan for liquidation, the methods and significant assumptions used to measure assets and liabilities, the type and amount of costs and income accrued, and the expected duration of the liquidation process. The Trust adopted this accounting update on December 1, 2013 and provided related disclosures in the financial statement footnotes.

Note_2_Real_Estate_Loan

Note 2. Real Estate Loan	12 Months Ended
	Dec. 31, 2013
Mortgage Loans on Real Estate [Abstract]	'
Mortgage Loans on Real Estate, by Loan Disclosure [Text Block]	'
	2. REAL ESTATE LOAN
	As of December 31, 2013 and 2012 the Trust had one real estate loan with a recorded amount of $0, which is net of a $150,800 allowance, collateralized by property in Sacramento, California and personally guaranteed by the principal members of the borrower. The loan bears interest at 10% per annum, payable in monthly installments of interest only. The principal balance was due August 31, 2010.
	As such, the remaining $150,800 balance is considered impaired and the Trust recorded a $150,800 provision for loan loss to establish a loan loss reserve in September 2011.
	Effective January 1, 2010, the Trust suspended income recognition on the real estate loan. Interest income forgone on the real estate loan during 2013 and 2012 was $15,080 and $15,080, respectively.

Note_3_Shareholders_Equity

Note 3. Shareholders' Equity	12 Months Ended
	Dec. 31, 2013
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	3. SHAREHOLDERS’ EQUITY
	In May 2013, the Trust repurchased 10 of its shares of beneficial interest for $833 or $83.30 per share in a privately-negotiated transaction. In 2012, the Trust repurchased 2,209 of its shares of beneficial interest for $184,010 or $83.30 per share in privately-negotiated transactions. On December 31, 2013 the Trust paid distributions of $38 per share or $599,956 and all of the Trust’s shares of beneficial interest outstanding were cancelled and may no longer be assigned or transferred. Therefore, the Trust no longer has any shareholders.

Note_4_Commitments_and_Conting

Note 4. Commitments and Contingencies	12 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	4. COMMITMENTS AND CONTINGENCIES
	The Trust may become involved in claims and 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_5_Fair_Value_Measurements

Note 5. Fair Value Measurements and Other Financial Measurements	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	5. FAIR VALUE MEASUREMENTS AND OTHER FINANCIAL MEASUREMENTS
	The Trust had no assets or liabilities accounted for at fair value on a recurring or non-recurring basis at December 31, 2012. 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 financial instruments were as follows:
				31-Dec-13				31-Dec-12
		Level		Carrying		Fair		Carrying		Fair
				value		value		value		value
	Cash		1	$	271,864	$	271,864	$	788,469	$	788,469
	Accounts payable		2		--		--		1,303		1,303
	There were no transfers between Level 1 and Level 2 during 2013 or 2012.
	Cash and Accounts payable. The carrying amounts approximate fair value because of the short maturity of the instruments.

Note_6_Related_Party

Note 6. Related Party	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	6. RELATED PARTY
	During the eleven months ended November 30, 2013, the Trust advanced $8,652 to West Coast Realty Trust, Inc., a related party (“WCRT”). As of December 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 was 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 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 eleven months ended November 30, 2013 and the year ended December 31, 2012, respectively. The advance is reflected as “Other assets” on the accompanying statement of net assets and balance sheet and recorded at $0 and $230,000 at December 31, 2013 and December 31, 2012, respectively.

Note_7_Income_Taxes

Note 7. Income Taxes	12 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	7. INCOME TAXES
	Losses before income taxes amounted to $142,801 and $779,470 for the eleven months ended and the year ended November 30, 2013 and December 31, 2012, respectively. Because of the net operating losses and a valuation allowance on deferred tax assets, there was no provision for income taxes recorded in the financial statements for the eleven months ended or year ended November 30, 2013 or December 31, 2012, respectively.
	A reconciliation of the federal statutory income tax rate of 34% and the Trust’s income tax rates is as follows:
		Eleven
		Months
		Ended
		November
		30,
		2013
	Statutory federal income tax benefit	$	44,532			31	%
	State income tax, net of federal benefit		12,624			9	%
	Valuation allowance		(57,156	)		(40	)%
	Effective income tax	$	-			0	%
		Fiscal Year
		Ended
		December 31,
		2012
	Statutory federal income tax benefit	$	241,864			31	%
	State income tax, net of federal benefit		68,905			9	%
	Valuation allowance		(310,769	)		(40	)%
	Effective income tax	$	-			0	%
	The components of the deferred tax assets (liabilities) consisted of the following as of December 31, 2013 and 2012:
		2013			2012
	Deferred tax assets:
	Net operating loss carry forwards	$	367,381		$	310,497
	State taxes		544			272
	Valuation allowance		(367,925	)		(310,769	)
	Total deferred tax assets, net	$	-		$	-
	The Trust has no interest or penalties related to unrecognized tax benefits at December 31, 2013 or 2012. The Trust has no material uncertain tax positions. The net operating loss carry-forwards of $922,271 as of December 31, 2013 will expire in 20 years.
	Based on the historical taxable income and projections for future taxable income over the periods in which the deferred income tax assets become deductible, management believes it more likely than not that the Trust will not realize benefits of these deductible differences as of December 31, 2013. Management has, therefore, established a full valuation allowance against its net deferred income tax assets as of December 31, 2013.
	The Trust began reporting under the liquidation basis of accounting on December 1, 2013. Since this date the Trust has not reported a statement of operations and, as such, has not reported income tax expense.
	The Trust’s estimates of tax implications related to the liquidation of the Trust are not expected to change through the wind up of the business.

Accounting_Policies_by_Policy_

Accounting Policies, by Policy (Policies)	12 Months Ended
	Dec. 31, 2013										Dec. 31, 2012
Accounting Policies [Abstract]	'										'
Basis of Accounting, Policy [Policy Text Block]	'										'
											GENERAL: The Trust is a California business trust that was formed on October 7, 1986. The primary purpose of the Trust was to engage in the business of acquiring, owning, operating and financing real estate investments. The Trust commenced operations on October 19, 1987, upon the sale of the minimum offering amount of shares of beneficial interest.
											A special meeting of the shareholders of record of USA Real Estate Investment Trust (the “Trust”) was held on December 4, 2013, and the shareholders adopted a resolution for the immediate termination of the Trust and a distribution of the assets of the Trust (subject to a reserve for the costs and expenses of winding up the business of the Trust) to the shareholders of record of the Trust. After the meeting, the Trustees acted to set aside a reasonable reserve for the anticipated costs and expenses of winding up the business of the Trust, and then resolved to pay and distribute the remaining balance of the assets of the Trust to the shareholders of record on a pro rata basis according to the number of shares owned by each shareholder.
											The Trustees expect that the business and affairs of the Trust will be completely wound up and the Trust will be dissolved by the end of 2014. At that time, there will be a final accounting of the reserve described above and, if any assets of the Trust then remain, there will be another and final pro rata distribution of the remaining assets of the Trust on the same basis as the current distribution. However, if at that time there are no remaining assets of the Trust, then there will be no further distribution to the shareholders of the Trust.
											As a result of these decisions, the Trust adopted the liquidation basis of accounting as of December 1, 2013, which was the beginning of the fiscal month closest to the shareholders’ approval date. This basis of accounting is appropriate when the liquidation of an entity is imminent. Under this basis of accounting, assets and liabilities are stated at their net realizable value, and estimated costs through the liquidation date are accrued for, to the extent reasonably determinable.
Liquidity Disclosure [Policy Text Block]	'										'
	ACCRUED LIQUIDATION COSTS: Under the liquidation basis of accounting, assets are stated at their net realizable value, liabilities are stated at their estimated settlement amounts and estimated costs through the liquidation date are accrued for, to the extent reasonably determinable. The Trust is required to make significant estimates and judgments. These estimates are subject to change. The Trust reviews, on a quarterly basis, the estimated fair value of its assets and all other remaining operating expenses and contractual commitments such as professional fees and other outside services to determine the estimated costs to be incurred during the liquidation period. The Trust expects to incur liquidation costs of $124,694 through the liquidation date. Liquidation costs of $122,982 were unpaid and accrued as of December 31, 2013.
	The Trust is required to make significant estimates and exercise judgment in determining accrued liquidation costs. The Trust accrued costs expected to be incurred in liquidation and recorded payments made related to the accrued liquidation costs as follows:
	Accrued Liquidation Costs	As Booked		Adjustments		Payments			Balance at
		December 1,		To					December 31,
		2013		Reserves					2013
	Outside services	$	116,444	$	--	$	(1,712	)	$	114,732
	Trustee fees		8,250		--		--			8,250
	Total	$	124,694	$	--	$	(1,712	)	$	122,982
	On a periodic basis, the Trust reviews all other remaining operating expenses and contractual commitments such as outside services and Trustee fees to determine the estimated costs to be incurred during the liquidation period. The Trust anticipates that wind up related costs will extend through 2014 as it settles the remaining matters.
	The estimate for outside services in accrued liquidation costs was $114,732 at December 31, 2013. These costs reflect the costs expected to be incurred to wind up the Trust through 2014.
	The estimated Trustee fees in accrued liquidation costs were $8,250 at December 31, 2013. These costs reflect the fees to be incurred for the final Trustee meetings scheduled for January and February of 2014. The Trust does not expect to incur any additional Trustee fees after these meetings to wind up the Trust.
	The Trust expects to settle its liabilities through cash on hand.
Use of Estimates, Policy [Policy Text Block]	'										'
	USE OF ESTIMATES: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	'										'
	CASH: Cash consists of demand deposits with financial institutions. Cash balances periodically exceeded the insurable amounts.
Distributiions in Excess of Net Income [Policy Text Block]	'										'
	DISTRIBUTIONS IN EXCESS OF NET INCOME: The Trust has a general policy of distributing cash to its shareholders in an amount that approximates taxable income plus noncash charges such as depreciation and amortization. As a result, distributions to shareholders exceed cumulative net income.
Segment Reporting, Policy [Policy Text Block]	'										'
	SEGMENT POLICY: The Trust operates in one business segment. For 2013 and 2012, all revenues have been derived from domestic operations.
Revenue Recognition, Policy [Policy Text Block]	'										'
	REVENUE RECOGNITION: Interest income is accrued on the outstanding principal amounts of the real estate loans. When the Trust determines that a loan is impaired, income recognition is suspended if full recovery of interest and principal appears uncertain. Loan fees are recognized as interest income over the lives of the related real estate loans using the straight-line method.
Income Tax, Policy [Policy Text Block]	'										'
	INCOME TAXES: From 1987 through 2011 the Trust was organized and operated in a manner that enabled it to be taxed as a real estate investment trust rather than a regular corporation. In 2012 the Trust was unable to maintain its status as a real estate investment trust. Accordingly, in 2012 and subsequent years the Trust will be taxed as a regular corporation.
Earnings Per Share, Policy [Policy Text Block]	'										'
	NET INCOME PER SHARE: Net income per share is computed based on the weighted-average number of shares outstanding.
New Accounting Pronouncements, Policy [Policy Text Block]	'										'
	RECENTLY ISSUED AND ADOPTED ACCOUNTING GUIDANCE: In April 2013, the Financial Accounting Standards Board (“FASB”) issued ASU 2013-07, Presentation of Financial Statements (Topic 205)–Liquidation Basis of Accounting. These amendments require an entity to prepare its financial statements using the liquidation basis of accounting (“LBA”) when liquidation is imminent. Among the requirements of LBA financial statements is that they: (a) present relevant information about an entity's expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation; (b) include in its presentation of assets any items not previously recognized under U.S. GAAP but that it expects to either sell in liquidation or use in settling liabilities; (c) recognize and measure an entity's liabilities in accordance with U.S. GAAP that otherwise applies to those liabilities; and (d) disclose an entity's plan for liquidation, the methods and significant assumptions used to measure assets and liabilities, the type and amount of costs and income accrued, and the expected duration of the liquidation process. The Trust adopted this accounting update on December 1, 2013 and provided related disclosures in the financial statement footnotes.

Note_1_Organization_and_Summar1

Note 1. Organization and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	'
	Accrued Liquidation Costs	As Booked		Adjustments		Payments			Balance at
		December 1,		To					December 31,
		2013		Reserves					2013
	Outside services	$	116,444	$	--	$	(1,712	)	$	114,732
	Trustee fees		8,250		--		--			8,250
	Total	$	124,694	$	--	$	(1,712	)	$	122,982

Note_5_Fair_Value_Measurements1

Note 5. Fair Value Measurements and Other Financial Measurements (Tables)	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value, by Balance Sheet Grouping [Table Text Block]	'
				31-Dec-13				31-Dec-12
		Level		Carrying		Fair		Carrying		Fair
				value		value		value		value
	Cash		1	$	271,864	$	271,864	$	788,469	$	788,469
	Accounts payable		2		--		--		1,303		1,303

Note_7_Income_Taxes_Tables

Note 7. Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	'
		Eleven
		Months
		Ended
		November
		30,
		2013
	Statutory federal income tax benefit	$	44,532			31	%
	State income tax, net of federal benefit		12,624			9	%
	Valuation allowance		(57,156	)		(40	)%
	Effective income tax	$	-			0	%
		Fiscal Year
		Ended
		December 31,
		2012
	Statutory federal income tax benefit	$	241,864			31	%
	State income tax, net of federal benefit		68,905			9	%
	Valuation allowance		(310,769	)		(40	)%
	Effective income tax	$	-			0	%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	'
		2013			2012
	Deferred tax assets:
	Net operating loss carry forwards	$	367,381		$	310,497
	State taxes		544			272
	Valuation allowance		(367,925	)		(310,769	)
	Total deferred tax assets, net	$	-		$	-

Statement_of_Changes_in_Net_As1

Statement of Changes in Net Assets in Liquidation (Liquidation Basis) (Details) - Statement of Changes in Net Assets in Liquidation (Liquidation Basis) (USD $)	Dec. 31, 2013	Nov. 30, 2013	Dec. 31, 2012	Dec. 31, 2011	Nov. 30, 2013	Dec. 31, 2013
					Liquidation Basis of Accounting [Member]	Liquidation Basis of Accounting [Member]
Statement of Changes in Net Assets in Liquidation (Liquidation Basis) (Details) - Statement of Changes in Net Assets in Liquidation (Liquidation Basis) [Line Items]	'	'	'	'	'	'
Shareholdersb equity at November 30, 2013	'	$873,532	$1,017,166	$1,980,646	$873,532	'
Liquidation basis adjustments:	'	'	'	'	'	'
Adjust assets and liabilities to fair value	'	'	'	'	0	'
Accrued liquidation costs	122,982	124,694	'	'	-124,694	122,982
Net assets (liquidation basis) end of year	'	'	'	'	748,838	148,882
Liquidation basis adjustments:	'	'	'	'	'	'
Net revenues from December 1, 2013 to December 31, 2013	'	'	'	'	'	0
Net costs from December 1, 2013 to December 31, 2013	'	'	'	'	'	0
Distribution	'	'	'	'	'	($599,956)

Note_1_Organization_and_Summar2

Note 1. Organization and Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Nov. 30, 2013
Note 1. Organization and Summary of Significant Accounting Policies (Details) [Line Items]	'	'
Liquidation Basis of Accounting Accrued Costs to Dispose of Assets and Liabilities	$122,982	$124,694
Number of Operating Segments	1	'
Liquidation Basis of Accounting Estimated Cost [Member]	'	'
Note 1. Organization and Summary of Significant Accounting Policies (Details) [Line Items]	'	'
Liquidation Basis of Accounting Accrued Costs to Dispose of Assets and Liabilities	124,694	'
Liquidation Basis of Accounting [Member]	'	'
Note 1. Organization and Summary of Significant Accounting Policies (Details) [Line Items]	'	'
Liquidation Basis of Accounting Accrued Costs to Dispose of Assets and Liabilities	122,982	-124,694
Estimate for Outside Services [Member]	'	'
Note 1. Organization and Summary of Significant Accounting Policies (Details) [Line Items]	'	'
Liquidation Basis of Accounting Accrued Costs to Dispose of Assets and Liabilities	114,732	116,444
Estimate for Trustee Fees [Member]	'	'
Note 1. Organization and Summary of Significant Accounting Policies (Details) [Line Items]	'	'
Liquidation Basis of Accounting Accrued Costs to Dispose of Assets and Liabilities	$8,250	$8,250

Note_1_Organization_and_Summar3

Note 1. Organization and Summary of Significant Accounting Policies (Details) - Accrued Costs Expected to be Incurred in Liquidation and Recorded Payments Made Related to the Accrued Liquidation (USD $)	1 Months Ended
	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Nov. 30, 2013
		Estimate for Outside Services [Member]	Estimate for Trustee Fees [Member]	Estimate for Trustee Fees [Member]
Note 1. Organization and Summary of Significant Accounting Policies (Details) - Accrued Costs Expected to be Incurred in Liquidation and Recorded Payments Made Related to the Accrued Liquidation [Line Items]	'	'	'	'
Outside services	$124,694	$116,444	$8,250	$8,250
Trustee Fees	-1,712	-1,712	'	'
Total	$122,982	$114,732	$8,250	$8,250

Note_2_Real_Estate_Loan_Detail

Note 2. Real Estate Loan (Details) (USD $)	1 Months Ended	12 Months Ended
	Sep. 30, 2011	Dec. 31, 2013	Dec. 31, 2012
Note 2. Real Estate Loan (Details) [Line Items]	'	'	'
Mortgage Loans on Real Estate, Number of Loans	'	1	1
Mortgage Loans on Real Estate	'	$0	$0
Allowance for Loan and Lease Losses, Real Estate	'	150,800	150,800
Provision for Loan Losses Expensed	150,800	'	'
Debt Instrument, Increase, Accrued Interest	'	$15,080	$15,080
Mortgage Loans on Real Estate [Member]	'	'	'
Note 2. Real Estate Loan (Details) [Line Items]	'	'	'
Debt Instrument, Interest Rate, Stated Percentage	'	10.00%	'

Note_3_Shareholders_Equity_Det

Note 3. Shareholders' Equity (Details) (USD $)	11 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended
	Nov. 30, 2013	Dec. 31, 2013	Dec. 31, 2012	31-May-13	Dec. 31, 2012
				Privately-Negotiated Transaction [Member]	Privately-Negotiated Transaction [Member]
Note 3. Shareholders' Equity (Details) [Line Items]	'	'	'	'	'
Stock Repurchased During Period, Shares (in Shares)	'	'	'	10	2,209
Stock Repurchased During Period, Value (in Dollars)	($833)	'	($184,010)	$833	($184,010)
Share Price	'	'	'	$83.30	$83.30
Distributions Per General Partnership Unit Outstanding	'	$38	'	'	'
General Partner Distributions (in Dollars)	'	$599,956	'	'	'

Note_5_Fair_Value_Measurements2

Note 5. Fair Value Measurements and Other Financial Measurements (Details) - Carrying Values and Fair Values of Other Financial Instruments (USD $)	Nov. 30, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012
				Fair Value, Inputs, Level 1 [Member]	Fair Value, Inputs, Level 1 [Member]	Fair Value, Inputs, Level 2 [Member]	Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'	'	'	'	'	'
Cash	$894,974	$788,469	$718,198	$271,864	$788,469	'	'
Cash	'	'	'	271,864	788,469	'	'
Accounts payable	'	'	'	'	'	0	1,303
Accounts payable	'	'	'	'	'	$0	$1,303

Note_6_Related_Party_Details

Note 6. Related Party (Details) (USD $)	11 Months Ended	12 Months Ended
	Nov. 30, 2013	Dec. 31, 2012	Dec. 31, 2013
Note 6. Related Party (Details) [Line Items]	'	'	'
Other Assets	'	$230,000	$0
Asset Impairment Charges	8,652	587,282	'
West Coast Realty Trust [Member]	'	'	'
Note 6. Related Party (Details) [Line Items]	'	'	'
Related Party Transaction, Amounts of Transaction	8,652	'	'
Due from Related Parties	'	'	825,934
Other Assets	'	'	$230,000

Note_7_Income_Taxes_Details

Note 7. Income Taxes (Details) (USD $)	11 Months Ended	12 Months Ended
	Nov. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]	'	'	'
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	$142,801	'	($779,470)
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	'	0	0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	31.00%	34.00%	'
Operating Loss Carryforwards	'	$922,271	'
Operating Loss Carryforwards, Expiration Term	'	'20 years	'

Note_7_Income_Taxes_Details_Re

Note 7. Income Taxes (Details) - Reconciliation of the Federal Statutory and Effective Income Tax Rates (USD $)	11 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
Note 7. Income Taxes (Details) - Reconciliation of the Federal Statutory and Effective Income Tax Rates [Line Items]	'	'	'
Balance (in Dollars)	$44,532	'	'
Percentage	31.00%	34.00%	'
Balance (in Dollars)	12,624	'	'
Percentage	9.00%	'	'
Balance (in Dollars)	-57,156	'	'
Percentage	-40.00%	'	'
Percentage	'	'	0.00%
Effective Income Tax [Member]	'	'	'
Note 7. Income Taxes (Details) - Reconciliation of the Federal Statutory and Effective Income Tax Rates [Line Items]	'	'	'
Percentage	0.00%	'	'
Domestic Tax Authority [Member]	'	'	'
Note 7. Income Taxes (Details) - Reconciliation of the Federal Statutory and Effective Income Tax Rates [Line Items]	'	'	'
Balance (in Dollars)	'	'	241,864
Percentage	'	'	31.00%
State and Local Jurisdiction [Member]	'	'	'
Note 7. Income Taxes (Details) - Reconciliation of the Federal Statutory and Effective Income Tax Rates [Line Items]	'	'	'
Balance (in Dollars)	'	'	68,905
Percentage	'	'	9.00%
Valuation Allowance of Deferred Tax Assets [Member]	'	'	'
Note 7. Income Taxes (Details) - Reconciliation of the Federal Statutory and Effective Income Tax Rates [Line Items]	'	'	'
Balance (in Dollars)	'	'	-310,769
Percentage	'	'	-40.00%

Note_7_Income_Taxes_Details_Co

Note 7. Income Taxes (Details) - Components of Deferred Tax Assets (Liabilities) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Components of Deferred Tax Assets (Liabilities) [Abstract]	'	'
Net operating loss carry forwards	$367,381	$310,497
State taxes	544	272
Valuation allowance	-367,925	-310,769
Total deferred tax assets, net	$0	$0