Let me hypothesis for a second:
You have gifted a friend cash so that they could use it as a deposit for a property and receive the FHOG. The title is solely in their name so effectively, you are a silent partner.
You go on to later purchase two additional properties jointly with this friend using a tenants-in-common arrangement. The title for these additional properties are held in joint names.
Many months down the track you wish to claim some assurance over the first property by having a legal document drafted up which will give you a claim to the property in some form or other. Other than the addresses of the parties involved what would you have in such an agreement?
What about first option to purchase the friend's share of the additional properties should they choose to sell?
Also, the first property is in WA. I heard a murmur that the state government has scheduled in the abolition of stamp duty by 2009, is this correct?
Any pointers would be appreciated.
You have gifted a friend cash so that they could use it as a deposit for a property and receive the FHOG. The title is solely in their name so effectively, you are a silent partner.
You go on to later purchase two additional properties jointly with this friend using a tenants-in-common arrangement. The title for these additional properties are held in joint names.
Many months down the track you wish to claim some assurance over the first property by having a legal document drafted up which will give you a claim to the property in some form or other. Other than the addresses of the parties involved what would you have in such an agreement?
What about first option to purchase the friend's share of the additional properties should they choose to sell?
Also, the first property is in WA. I heard a murmur that the state government has scheduled in the abolition of stamp duty by 2009, is this correct?
Any pointers would be appreciated.