-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Gr7PcqdOccPoQ9gsy9jrmuO73is/Hu/DTBNdku9dkF3ksOkN+MoevkqiO1SyYUn2
 LI+BOoBdRwzAh6Kgs6JPPg==

<SEC-DOCUMENT>0001181431-03-008963.txt : 20030527
<SEC-HEADER>0001181431-03-008963.hdr.sgml : 20030526
<ACCEPTANCE-DATETIME>20030527132449
ACCESSION NUMBER:		0001181431-03-008963
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030522
FILED AS OF DATE:		20030527

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SIMPSON WENDY
		CENTRAL INDEX KEY:			0001198417

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11314
		FILM NUMBER:		03719573

	MAIL ADDRESS:	
		STREET 1:		300 ESPLANADE DR #1860
		CITY:			OXNARD
		STATE:			CA
		ZIP:			93036

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LTC PROPERTIES INC
		CENTRAL INDEX KEY:			0000887905
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				710720518
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		300 ESPLANADE DR STE 1860
		CITY:			OXNARD
		STATE:			CA
		ZIP:			93030
		BUSINESS PHONE:		8059818655

	MAIL ADDRESS:	
		STREET 1:		300 ESPLANADE DR SUITE 1860
		STREET 2:		300 ESPLANADE DR SUITE 1860
		CITY:			OXNARD
		STATE:			CA
		ZIP:			93030
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd9668.xml
<DESCRIPTION>WLS FORM 4 (5/27/03)
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-05-22</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000887905</issuerCik>
        <issuerName>LTC PROPERTIES INC</issuerName>
        <issuerTradingSymbol>LTC</issuerTradingSymbol></issuer>
<reportingOwner>
<reportingOwnerId>
            <rptOwnerCik>0001198417</rptOwnerCik>
            <rptOwnerName>SIMPSON WENDY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Vice Chairman &amp; CFO</officerTitle>
<otherText></otherText></reportingOwnerRelationship></reportingOwner>
<nonDerivativeSecurity>
<securityTitle>
<value>Common Stock</value></securityTitle>
<transactionDate>
<value>2003-05-22</value></transactionDate>
<deemedExecutionDate>
<value>2003-05-22</value></deemedExecutionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>F</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved></transactionCoding>
<transactionTimeliness>
<value></value></transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>17000</value></transactionShares>
<transactionValue>
<value>5.313</value></transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value></transactionAcquiredDisposedCode></transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>170030</value></sharesOwnedFollowingTransaction></postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value></directOrIndirectOwnership>
<natureOfOwnership>
<value></value></natureOfOwnership></ownershipNature></nonDerivativeSecurity>
<nonDerivativeSecurity>
<securityTitle>
<value>Common Stock</value></securityTitle>
<transactionDate>
<value>2003-05-22</value></transactionDate>
<deemedExecutionDate>
<value>2003-05-22</value></deemedExecutionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>F</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved></transactionCoding>
<transactionTimeliness>
<value></value></transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>3000</value></transactionShares>
<transactionValue>
<value>5.375</value></transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value></transactionAcquiredDisposedCode></transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>173030</value></sharesOwnedFollowingTransaction></postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value></directOrIndirectOwnership>
<natureOfOwnership>
<value></value></natureOfOwnership></ownershipNature></nonDerivativeSecurity>
<nonDerivativeSecurity>
<securityTitle>
<value>Common Stock</value></securityTitle>
<transactionDate>
<value>2003-05-22</value></transactionDate>
<deemedExecutionDate>
<value>2003-05-22</value></deemedExecutionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>F</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved></transactionCoding>
<transactionTimeliness>
<value></value></transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>4000</value></transactionShares>
<transactionValue>
<value>7.63</value></transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value></transactionAcquiredDisposedCode></transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>177030</value>
<footnoteId id="F1"/></sharesOwnedFollowingTransaction></postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value></directOrIndirectOwnership>
<natureOfOwnership>
<value></value></natureOfOwnership></ownershipNature></nonDerivativeSecurity>
<footnotes>
<footnote id="F1">Table I Balances:1. PrA, Directly held, 16,215 shares2. PrA, Held by spouse, 7,250 shares3. PrB, Directly held, 2,500 shares4. PrB, Held by spouse, 1,800 shares5. Common, held by Rabbi Trust, Company contribution/reinvestment of dividend on shares held in deferred compensation trust, Individuals have no voting rights over such shares, 18,825 shares6. Common, Held by spouse, 5,315 sharesTable II Balances:1. Common Stock Options, @$5.375, Exercisable 3/31/2004, 3,000 shares2. Common Stock Options, @$5.375, Exercisable 3/31/2005, 3,000 shares3. Common Stock Options, @$5.313, Exercisable 4/10/2004, 17,000 shares4. Common Stock Options, @$5.313, Exercisable 4/10/2005, 17,000 shares5. Common Stock Options, @$7.63, Exercisable 4/04/2004, 4,000 shares6. Common Stock Options, @$7.63, Exercisable 4/04/2005, 4,000 shares7. Common Stock Options, @$7.63, Exercisable 4/04/2006, 4,000 shares8. Common Stock Options, @$7.63, Exercisable 4/04/2007, 4,000 shares</footnote></footnotes>
<ownerSignature>
<signatureName>Wendy Simpson</signatureName>
<signatureDate>2003-05-27</signatureDate></ownerSignature></ownershipDocument>


</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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