misguided_will replied to the topic SMSF Co-owner use in the forum Legal & Accounting 8 years, 6 months ago
Hi Terry,
Thanks for the suggestion. I think the co-owner should be able to borrow enough against their existing properties to fund their 50% share.
Regarding co-owner use (actually a relative), assuming the house has self-contained quarters such as a granny flat OR is a dual key apartment, do you think their usage would comply with the SMSF…[Read more]
misguided_will replied to the topic SMSF Co-owner use in the forum Legal & Accounting 8 years, 6 months ago
thanks terry
re “the property couldnt be mortgaged”, i was planning to use my smsf balance of $150k to get a loan to pay the smsf’s 50% share, meanwhile the co-owner/related party would arrange their own financing to pay for their 50% share.
To clarify, do you mean that the co-owner/related party can’t have their loan secured against their 50%…[Read more]
misguided_will started the topic SMSF Co-owner use in the forum Legal & Accounting 8 years, 6 months ago
Hi there
I’m considering purchasing a dual key apartment or house with a granny flat with my SMSF (50%) and a co-owner/relative (50%).
I know for a 100% SMSF property, relatives are unable to benefit/rent the property.
But as a co-owner, would they be entitled to use their half of the property which they own?
Thanks
richard