LRBA STRUCTURES
Our Services
LRBA STRUCTURES
Our Services
In order for a Super Fund to purchase an investment property and borrow money, it will be necessary to have a special legal structure in place.
It is estimated that 25 to 35% of legal structures fail to satisfy the lenders requirements, which quite often leads to delayed settlements and penalty interest being applied, this is as a result of the deed rules not containing specific wording/clauses that is unique to each and every lender.
You will have comfort in knowing that our deeds have adopted significant changes over the years to not only ensure SIS Act and regulatory compliance, but to also accommodate the individual requirements of the lenders.
We guarantee that our deeds will pass legal vetting by any lender, however in the rare instance that a particular lenders requirements change without notice, we will make the necessary amendments speedily, and free of charge.
1
Bare Trust Deed
The Bare Trust Deed is a key component within the legal structure and extreme care is required so to ensure there are no adverse GST, taxation or stamp duty consequences. The SIS (Superannuation Industry Supervision) Act 1993 Act requires where an asset is acquired with the proceeds from a loan, the asset "is held on trust” with the Super Fund being the beneficial owner to the asset at all times. Once the loan is repaid in full the asset can then be transferred to the Super Fund.
2
Premium Bare Trust Deed Package
Our Premium Package includes:
✓ Covering Letter
✓ Bare Trust Deed
✓ Agency Agreement
✓ Settlement Agents Letter/Notification of Acquisition by a Trust
✓ SIS Act S67A & 67B, Auditors 'Letter of Compliance'
✓ Minutes of Meeting for any/all Corporate Trustees
✓ Beneficial Owner Statutory Declarations
✓ Stamp Duty summary
✓ Purchaser Name on Contract of Sale summary
✓ Timing of Contract and Bare Trust summary
✓ Legal Backup (at no additional cost)
✓ Trust Deed/s 'signed off' by major banks/lenders
3
Non-Bank Loan Documentation
Our Non-Bank Loan Documentation Package includes:
✓ SIS Act Compliant Loan Agreement;
✓ Guarantee & Indemnity;
✓ Acknowledgment & Warranties;
✓ Legal Backup (at no additional cost).
4
Super Fund Trust Deed
The Super Fund must be established with a trust deed which is a legal document that outlines how the fund will be set up and how it will operate.
The Super Fund trust deed contains the rules that govern the SMSF. This being the case, the Trustee of the Fund must ensure that the Trust Deed contains all of the provisions required under the section 67(A&B) of the SIS Act.
5
Corporate Trustee
A Corporate Trustee (Pty Ltd) is required to be the trustee entity of the Bare Trust, whereas the Super Fund can have either the members of the Super Fund or a Corporate Trustee as the trustee entity. In saying that, there are certain lender that require a Corporate Trustee for both the Bare Trust and Super Fund Deed when borrowing money.
In order for a Super Fund to purchase an investment property and borrow money, it will be necessary to have a special legal structure in place.
It is estimated that 25 to 35% of legal structures fail to satisfy the lenders requirements, which quite often leads to delayed settlements and penalty interest being applied, this is as a result of the deed rules not containing specific wording/clauses that is unique to each and every lender.
You will have comfort in knowing that our deeds have adopted significant changes over the years to not only ensure SIS Act and regulatory compliance, but to also accommodate the individual requirements of the lenders.
We guarantee that our deeds will pass legal vetting by any lender, however in the rare instance that a particular lenders requirements change without notice, we will make the necessary amendments speedily, and free of charge.
1
Bare Trust Deed
The Bare Trust Deed is a key component within the legal structure and extreme care is required so to ensure there are no adverse GST, taxation or stamp duty consequences. The SIS (Superannuation Industry Supervision) Act 1993 Act requires where an asset is acquired with the proceeds from a loan, the asset "is held on trust” with the Super Fund being the beneficial owner to the asset at all times. Once the loan is repaid in full the asset can then be transferred to the Super Fund.
2
Premium Bare Trust Deed Package
Our Premium Package includes:
✓ Covering Letter
✓ Bare Trust Deed
✓ Agency Agreement
✓ Settlement Agents Letter/Notification of Acquisition by a Trust
✓ SIS Act S67A & 67B, Auditors 'Letter of Compliance'
✓ Minutes of Meeting for any/all Corporate Trustees
✓ Beneficial Owner Statutory Declarations
✓ Stamp Duty summary
✓ Purchaser Name on Contract of Sale summary
✓ Timing of Contract and Bare Trust summary
✓ Legal Backup (at no additional cost)
✓ Trust Deed/s 'signed off' by major banks/lenders
3
Non-Bank Loan Documentation
Our Non-Bank Loan Documentation Package includes:
✓ SIS Act Compliant Loan Agreement;
✓ Guarantee & Indemnity;
✓ Acknowledgment & Warranties;
✓ Legal Backup (at no additional cost).
4
Super Fund Trust Deed
The Super Fund must be established with a trust deed which is a legal document that outlines how the fund will be set up and how it will operate.
The Super Fund trust deed contains the rules that govern the SMSF. This being the case, the Trustee of the Fund must ensure that the Trust Deed contains all of the provisions required under the section 67(A&B) of the SIS Act.
5
Corporate Trustee
A Corporate Trustee (Pty Ltd) is required to be the trustee entity of the Bare Trust, whereas the Super Fund can have either the members of the Super Fund or a Corporate Trustee as the trustee entity. In saying that, there are certain lender that require a Corporate Trustee for both the Bare Trust and Super Fund Deed when borrowing money.
Supplier to National Tax & Accountants Association (NTAA) & CPA Members since 2007
Supplier to National Tax & Accountants Association (NTAA) & CPA Members since 2007
Privacy Policy | Terms of Service
© 2007 LRBA Structures | All rights reserved.
Privacy Policy | Terms of Service