Good evening all;
When investing thru a Trust,
does the oiffer need to be made in the Trust name
or can I make an offer in my name,
then sign the contract ubder the Trust name.I would rather that the vendor not know that
I am buying under a Trust.Regards
DarylLegally there the trustee purchases the asset in their name for the trust. There is no real requirement to list the trust. People do this for added protection in case there is a dispute down the track. The trustee's ownership as trustee can be established other ways including lodging a caveat on behalf of the trust just after settlement and minutes of the trust, maybe witnessed by a third party.
(I am not a lawyer, so confirm this)Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi there
people in other states may correct me if I am wrong – but I think it is only QLD that has on the Form 1 transfers and property information disclosed in the accompanying Form 24 that the property is being purchased by a trust – and actually identifies the name of the trust as well as the Trustee
I recall that in SA – if individuals were buying properties as trustees – they had to indicate that they were buying the property "with no survivorship" – to ensure there were no problems further down the track – and indicate they were acting as trustees.Yes in Qld the Transfer document and the Contract must reflect that the Trust is purchasing the property.
Richard Taylor | Australia's leading private lender
What are the rules pertaining to NSW?
Regards
Daryl
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