Any claims wouldn't amount to much 2 weeks is about 4% of a year!

Complicates CGT too, though this shouldn't really be an issue in the long run. The property will be always subject to CGT as a % of the time it was rented.

Yes, someone that owes you money is responsible and you can take legal action to get this money back. If you have an insurer they will probably take this action (in your name too!).

Don't know about conveyancers but solicitors can.

Tom

It is a wrap type arrangment this may not help the family member who wants out. They would presumably want to be taken off the mortgage and want cash up front.

The equity comment what happens in the future if considerable equity is build up and one wants to use it and the other doesnt. Or even if both want to use it.

Also consider death divroce and incapacity.

Worth making tje point twice!

Another thing to consider is utlising future equity

Would you be willing to guarantee a strangers loan? Or even a family members?

Unit trusts are separate to the individual. Arms length usually is used in the context of entering contracts on commercial terms so a unit holder renting from a unit trust will be arms length if renting at market rates and market terms.

Unit trusts are well worth looking at because of some unique stategies such as
. Borrowing to buy units and negative gearing.
2. Selling units without stamp duty in some states.
3. Ability to use refinancing principal and borrow to buy private expenses and claim the interst.
. Ability to sell units to a smsf andget tje trust assets into super and the cash of your super out into your hands…

course careful planning and advice is needed.

Yes there are various strategies you could implement to strengthen asset protection. Some cheap and easy to implement others costly and complex. This needs to be considered in conjunction with estate planning, tax, stamp duty, land tax etc.

Pimobpi,

Hope you look at some asset protection strategies if you are going to do a development. The protection of what you have is paramount.

Think of the legal side of it. You have appointed the agent as your 'agent' in the legal sense. You have probably given then authority to enter into contracts on your behalf in relation to the property, including contracting with tradesmen. You are probably liable for any charges of the tradesman as if you contracted them yourself. I would suggest you clarrify in writing with your agent.

And here is a quote, which I am going to charge you $10 for:

"disgarded pizza boxes are a great source of cheese"