Converting a Hybrid Trust to a Unit Trust

Just wondering if anyone has had any luck converting a hybrid trust to a unit trust and avoiding the trust re-settling and hence incuring stamp duty?
The hybrid trust I have has only been used as a unit trust so far.
I am looking to refinance the proprties held in the trust, but am having difficulty getting finance (through a broker) due to it being a hybrid.

Cheers,
Nick
 
hi Nick

I am not sure if you could do it without a settlement, but you may get around the finance problem by just applying for the finance in the name of the trustee, rather than the unit holders. This will have tax consequences, but may at least help you get finance. Also try removing any reference to the word hybrid in the name.
 
I'm speculating here, but I'd say it depends also on how the deed is written.
and I'm wondering if you could buy back the units issued, and issue them with different conditions.
Or change the obligations on the current units?
You'd likely have to speak to whoever got you the trust deed in the first place though.
 
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