What Is An Easement?
August 1, 2021
What Are The Steps to Buy a Property?
September 30, 2021
No.
Instead, the trustee or the trustees of the trust own the land on behalf of the trust and its beneficiaries. This is why only the trustee’s name is shown on the title.
As soon as a trust property is acquired, we send a Notice of Trust Acquisition to the Land Tax office that advises of the non-beneficial ownership of the land by the trustee. This will ensure that the trustee is not personally assessed for applicable Land Tax, instead the trust (or superannuation fund) will be assessed as a separate entity.
For more information about Trust property and acquisition, you may contact Glenferrie Conveyancing in Northcote on 03 9815 2351.
Andrew Rothfield
Andrew Rothfield is a licensed conveyancer from Glenferrie Conveyancing. The company holds the prescribed professional indemnity insurance, maintains a general trust account, and is a leading subscriber to the PEXA electronic settlement system.
