Moving other assets into a private trust

[morag-janet-of-the-hill-family]

Get the Trustees to buy it on behalf of the Trust.

[ajs]

Could you do the same with any other “registered title” , a house, a car, land , etc? Establish a trust and then have the trustees purchase it for a dollar? And what all the usual taxes associated with sale? I would purchased a non registered trust whilst it was on sale but so many issues are unclear.

[morag-janet-of-the-hill-family]

Trusts-and-productivity-of-labour-and-houses-Q-and-A-2.pdf 75 KB PDF - Click to view

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[E.H.]

Hello Janet, Long time no contact.

I finally found a home and put in an offer, which was accepted. I am buying it as the trustee of the trust (as you mentioned before). I signed the contract with ‘without prejudice’, so let’s see if they accept it. If they don’t accept it should I just walk away seeing that the titles are being destroyed? What do you think? Of course I like to have my own home, but if it is too risky, I can wait to see how things work out.

[morag-janet-of-the-hill-family]

it’s great that the Trustees are buying the property on behalf of the Trust so that it will be owned by the trust from the word go and then you will be in a much stronger position when dealing with offers from the system. All rights reserved would have probably been better to use with your signature. Here’s an explanation of ‘without prejudice ‘ and when it is appropriate to use it.

Without-Prejudice.pdf 33 KB PDF - Click to view

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[E.H.]

Thank you Janet. If they don’t accept it, should I walk away then (considering that they are destroying )titles right now)?

[morag-janet-of-the-hill-family]

That is your decision as to whether you want to negotiate or whether you decide to move on and look for another property.

[E.H.]

Thank you Janet. I have walked away as I think it’s less risky to look for a property with Crown Title. I assume you’ve seen how Rod Culleton helped people in WA to get their Crown Title?

• This reply was modified 1 year, 10 months ago by  E.H. Hameeteman.

[morag-janet-of-the-hill-family]

Yes I did, it was so great that he was helping people to empower themselves in that way.