XYZ and/or Nominee in NSW

[alpina]

hi guys,

in nsw, is it ok to have "mr and mrs xyz and/or nominees" at time on exchange of contracts, without incurring any addition stamp duty or other penalties?

reason i ask is because we hope to be bidding at auction next week and haven't sorted out if we want to purchase under our names or under trust.

thanks,

julie

 

[Rolf Latham]

Hi Julie

I believe once you exchange contracts (for eg buying at auction) the nominee needs to be nominated.

ta
rolf