ParthaParticipant@parthopdasJoin Date: 2016Post Count: 2
I plan to start a business (not related to property investing) where the business would be owned by a discretionary trust and the trustee would be a company with no assets.
My family home has about $450k of equity and my only 1 investment property has 100% debt purchased last year. I do not expect any equity built up in my investment property. The investment property has landlord insurance.
I am looking for ideas to protect my family home from any inadvertent creditors arising out of my business that I am planning to start. I am aware of moving the property into a trust, but I would like to explore other ideas in order to save on stamp duty.
Thanks in advance.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,190
go see a lawyer
easiest and cheapest way is to not be a director of the trustee and to not give any personal guarantees.
Other ways are to create charges or interests in the property which could take priority over creditors. Lots of issues though