hi all
can anyone give me a heads up on the ownership of a property owned by a trust with a company trustee upon the death of a member?
if there were only two parties listed as beneficiaries of the trust, does the ownership of the property become the sole property of the other party in the trust? or do the deceased person's beneficiaries have a claim over the property?
common sense would indicate that the beneficaries of the deceased persons would then have claim over that property but just checking.
another issue; do the beneficaries then incur a stamp duty/cap gains issue?
thanks all
can anyone give me a heads up on the ownership of a property owned by a trust with a company trustee upon the death of a member?
if there were only two parties listed as beneficiaries of the trust, does the ownership of the property become the sole property of the other party in the trust? or do the deceased person's beneficiaries have a claim over the property?
common sense would indicate that the beneficaries of the deceased persons would then have claim over that property but just checking.
another issue; do the beneficaries then incur a stamp duty/cap gains issue?
thanks all