Hi, it depends

You could have

ABC Pty Ltd atf ABC Family Trust

ABC Pty Ltd as trustee for the ABC Family Trust

ABC Pty Ltd as trustee under instrument

ABC Pty Ltd   (as ABC Pty Ltd is the legal entity that owns the property, although the equitable owner is the trust, however some documents required you to indicate if the company is acting in the position of trustee)

Most of the equitable stuff is moot now for trying to not disclose the trust as the beneficial owner as the trust requires an ABN and the ABN will be "the trustee for the ABC family Trust".

I am a huge fan of commercial, but only certain types.

AND you need to be able to wear periods without rent, vacancies can be longer in a lot of commercial types.

Rent can be greatly influenced by where we are in the economic cycle also.

Structures will depend on the state and your goals.

Company are not usually good for holding property in.

Trusts are great, discretionary trusts in NSW are not because of no land tax free thresholds.

have fun

Half the houses in inner Brisbane would have some level of asbestos in it, the other half used to .

I assume the properties are held personally?

You may be able to go the spruiker for various misrepresentations, but if they are not clear cut it can be expensive and if you lose they can go you for costs. 

You need to sit down with a lawyer and get them to best extricate you from this situation.  They may be able to negotiate an outcome where the properties are sold and you are left with a personal loan that you pay down as an alternative to having the bank take the properties and then go you for the balance.  Possible personal bankruptcy issues here, or at best a huge wack to the credit rating.

You are going to have come up with money upfront for the lawyer and put in their trust account would be my guess.  

good luck.

Lucky NSW people

In the majority of Council areas in Qld that would be termed a Multiunit dwelling, regardless of the built form.  In a unit you would probably be ok, in a house Enforcement Notices, lawyers and town planners will become your friends.  Messy and expensive stuff that kills your rental return.

Hi Clintron

It sounds feasible from a planning perspective.  It depends on the state you are in, but in QLD for example you can build the house post approval but before plan sealing.

Remember to include infrastructure contributions in your figures, can be up to 28,000 in Qld for a resi lot.

Always better to at least scribble out in writing first who does what, who owns what and how you deal with things that may arise.  Make it very comprehensive.  Won't stand up in court the way a lawyers joint venture agreement would, but will greatly reduce chances of fighting.

D

Hi Terry

I agree with bankruptcy Trustee and also liquidators, they seem to miss a lot and sometimes their understanding of structures is poor.  Been a bonus for my clients thus far.

Hi

Can work great.

Key things:

1. Unitholders agreement

This deals with the interactions between the parties and how to deal with any issues that may arise.  Qutie extensive and because it outlines how things happen in different circumstances it greatly reduces risks of fights.

2. Entites that Hold Units

I would normally draft the unit holders agreeement to preclude the units being held by individuals, units are assets and can therefore be taken by creditors of the individuals, holding the units in a discretionary trust avoids that problem.

Utilise only one for first development and then setup a new one each time.  Cheap insurance.

You can also investigate a partnership of entities as opposed to a unit trust.  You then just have a partnership or joint venture agreement instead of the unitholders agreement.  

Which state the land is in may change things also.

regards

D