Structure for property investing

hi davidb

i use a trust for my property holdings, one without a corporate trustee. the only advantage with acorporate trustee is the element of asset protection. but the cost is considerable. if you restructured i think all you need do is change the trustee, however this may effect the mortgages (if you have them) because they would need to be rewritten i believe.
regards westan

Westan, I didn’t think that a corporate trustee added asset protection. I thought it just separated the properties more fully from your own holdings.

We have a corporate trustee, and my reasoning is that it’s a lot easier to change the directors, and therefore who controls the trust without having to change all the mortgages/titles as you mentioned.

I can’t remember the other reasons why the Company was good, it’s been a while since I looked at it. I’ve just purchased Dale GG’s Trust Magic though, so I reckon that should ‘re-enlighten’ me.

Quick Q. Do you have more than one trust? Or do you have all properties in the one?

Cheers
Mel

hi all

terry you have explained what i ment about assett protection, (it is from a legal point).

mel i only have one trust, i should probably start to seperate some of my assetts, but i do have a separate company where i hold some assetts. thanks for reminding me about that because it’s something i wasd thinking about recently but didn’t do anything about.
terry if i was a trustee and had signed all the mortgage documents and the i was replaced as trustee would the banks require the mortages to be redone with the new trustee???
westan