Trust establishment after signing contracts?

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From: Anonymous


Does anyone know if you can add the clause "and or nominee" to a queensland contract for the purpose of establishing a trust after signing contract, but prior to settling.

Also, would you be up for double duty?
 
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From: E L


Funny you should post this after we've had such an experience! Be very careful adding 'and or nominee' to the contract after you've signed it.

YES - if the trust/company has been established after the contract has been signed, you will be up for double stamp duty. Thanks to the professionalism of our conveyancer we got around paying double duty. The Titles office in QLD is on the lookout for this and didn't hesitate in expecting us to pay double. It didn't help that we changed dates etc and made it very easy for them to pick up on.

Solution - sign a new contract with the correct dates.

Cheers
EL
 
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