All Topics / General Property / Settling a property into a different entity

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  • Profile photo of kiwipaulkiwipaul
    Member
    @kiwipaul
    Join Date: 2004
    Post Count: 2
    March 7, 2005 - 1:52 am

    Hi, In NZ, by putting “Joe Bloggs and/or nominee” as purchaser on a contract, you can settle the property into any other entity ie: company, trust etc on settlement day. Is this possible in Australia? Cheers Paul

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 7, 2005 - 2:43 am

    Yes. but get legal advice. Each state differs in their rules. In some states the entity must be set up before you sign the contract, or you must pay stamp duty twice – this is the case in QLD I think.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

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