All Topics / Legal & Accounting / Purchasing from a family trust

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  • Profile photo of glider01glider01
    Member
    @glider01
    Join Date: 2008
    Post Count: 1
    March 17, 2008 - 9:48 pm

    Is it possible to purchase a home from a family trust rather than having to transfer the trust property to a beneficiary first?

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 18, 2008 - 1:55 am

    it maybe possible, but unlikely I think.

     what could be possible is to clone the trust  – ie make a second trust exactly the same. The new trust can hold the one property and the old trust the remaining property. You can then take control of the new trust and control the property.

    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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