And you might find that a valuer may think what you paid is market value. Start collection details of comparable sales (sales not just listings)

Does the bank specify a clause in the NCC which prohibits this?

What you have done is use a property you don't own as security. You are a director of a company which is a trustee. So you have various legal obligations and duties both in relation to the company and to the trust. The trustee has allowed you to use the trust property – but does the trust deed allow you to do this? If not, then you have breached your fiduciary duties as director of the trustee company.

What was the money used for? Trust related? Did the trust pay for the property when purchased from you?

Yes,, may be limited to loan based on land valuation only.

Sufficient for what?

See the link above for s118-145 . It can be left untenanted forever and still be CGT exempt (under certain circumstances).

separately, If you are talking about income tax then if it is vacant and you are not advertising then you generally could not claim any interest during this period.

Please explain?

What exactly could be less than 3 months/?

Nil to $20,000. Probably around $1000 to  $2000 for an average price – set up by a professional.

Stamp duty in NSW is $500

Company trustee ASIC fee is about $426 plus cost to set up company

Avoid cross securitising at all costs. It is not necessary and can be avoided.

Depends on the wording of the contract. You could word it in your favour with all the money to come back.

Don't draft it yourself but get a lawyer to do it.

Not really any costs. No discharge of mortgage, no agents fees etc. Just conveyancing costs which are cheap in VIC.

There may be CGT depending on when the deceased had purchased the property, whether it was a main residence or rental, how long since the death and who lived there etc

An equitable assignment would be possible. But this would be a breach of mortgage agreement and a dutiable transaction.