I am in the process of purchasing a property through our SMSF, by signing the contracts this Saturday with the RE agent.
My question may be simple, but unclear to me. It is "Under what name should the contract be signed under"?
I've spoken briefly to my Solicitor, MB, and accountant on this topic today, and I got a slightly different answer from each.
Just a bit of background to help put this together:
- The structure of the SMSF is setup similar to the drawing in this link:
http://www.superannuationwarehouse.com.au/property/investment-property/
- Lets say the corporate trustee for the SMSF is referred to as "JK Pty Ltd"
- Lets say the smsf is called "JK Superannuation fund"
- Lets say the custodian trustee for the bare trust is "200SX Pty Ltd"
- Lets say the bare trust is referred to as the "200SX Bare Trust"
So, what name would be put into the contract as the purchaser?
Now, here's the twist (well, I hope it isn't):
- The Bare trust was initially setup for a purchase that was planned in the middle of last year,
- For various reason's, the contract was ended,
- I have a copy of the paperwork of the Holding Trust Deed of the establishment of the Bare trust, and it isn't dated, and doesn't have listed in it any details of the property that was planned to be purchased back then.
-The purchase of the property back then was to be in QLD, the new property now is in VIC.
How do I know if I can still use the BAre Trust that was setup back then? Is there some type of registar that can be checked in this type of instance?
Thanks, JK
My question may be simple, but unclear to me. It is "Under what name should the contract be signed under"?
I've spoken briefly to my Solicitor, MB, and accountant on this topic today, and I got a slightly different answer from each.
Just a bit of background to help put this together:
- The structure of the SMSF is setup similar to the drawing in this link:
http://www.superannuationwarehouse.com.au/property/investment-property/
- Lets say the corporate trustee for the SMSF is referred to as "JK Pty Ltd"
- Lets say the smsf is called "JK Superannuation fund"
- Lets say the custodian trustee for the bare trust is "200SX Pty Ltd"
- Lets say the bare trust is referred to as the "200SX Bare Trust"
So, what name would be put into the contract as the purchaser?
Now, here's the twist (well, I hope it isn't):
- The Bare trust was initially setup for a purchase that was planned in the middle of last year,
- For various reason's, the contract was ended,
- I have a copy of the paperwork of the Holding Trust Deed of the establishment of the Bare trust, and it isn't dated, and doesn't have listed in it any details of the property that was planned to be purchased back then.
-The purchase of the property back then was to be in QLD, the new property now is in VIC.
How do I know if I can still use the BAre Trust that was setup back then? Is there some type of registar that can be checked in this type of instance?
Thanks, JK