All Topics / Legal & Accounting / It’s a question of Trust!

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  • Profile photo of Kevin_3Kevin_3
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    @kevin_3
    Join Date: 2003
    Post Count: 12
    November 16, 2005 - 12:08 am

    Well, actually it’s a queastion on TRUSTS!

    I was after some information about the correct way to use a Company / Trust Assesst Protection structure.

    I have a company, which is trustee for a trust. The trust is to hold my investment properties. Whose’ name should I buy the property in and lodge the Notice of Sale in – The company or the Trust? The LPI says a trust can’t be on the Notice of Sale Blue Form. In that case why have a trust if the company has to own the property? Or did I just get someone in the LPI who doesn’t know what he is talking about?

    Profile photo of grossrealisationgrossrealisation
    Member
    @grossrealisation
    Join Date: 2005
    Post Count: 1,031
    November 16, 2005 - 1:12 am

    hi Kevin
    the easiest way to explain trust is go back to the board look up any post that coastymike or cata have answered right click there name and have a read of the posts they have answered and you will understand because
    a. no point in reinventing the wheel
    b. the page wouldn’t be long enough to explain.
    c. its the structure that buys the property but companies and trusts in different state are different so read

    here to help
    If you want to get involved in some of the projects I’m involved in email to [email protected]

    Profile photo of catacata
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    @cata
    Join Date: 2005
    Post Count: 559
    November 16, 2005 - 6:03 am

    Hi Kevin

    The company name ismto be on the purchasing document, but the company owns the name only and all traidng should be done through the trust.

    Make a minute entry to show that the trustee has purchased the property for the trust.

    CATA
    Asset Protection Specialist
    [email protected]

    Profile photo of Kevin_3Kevin_3
    Member
    @kevin_3
    Join Date: 2003
    Post Count: 12
    November 16, 2005 - 8:26 am

    Thanks for the replies. Between what you have said & my accountant, things are falling into place. I will do what grossrealisation says and read your previous posts Cata.

    Cheers
    Kevin

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
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    November 24, 2005 - 10:11 am

    The trustee simply buys assets in its capacity as trustee.

    Terryw
    Discover Home Loans
    Parramatta
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