Reviewing the SMSF Trust Deed and Security/Holding Trust Deed.
Creating the Security/Holding Trust Deed, if and when required by the customer.
Proactively meeting with your primary trust deed providers to preapprove their trust deeds allowing you to benefit from discounted review fees.
Requirements.
The SMSF Trustee must be permitted to borrow under the SMSF Trust Deed.
A separate company entity is required to hold title to the property on trust for the SMSF.
A trust arrangement deed is required (between the SMSF and the property custodian) specifying the roles and duties for future asset acquisitions by the SMSF.
The vendor must be an unrelated party if residential property is being purchased.
The SMSF has beneficial right to the property (title transfer normally affected on full loan repayment).
The SMSF must be able to service the loan from its own income sources.
The bank takes a mortgage which is limited in recourse to the property asset only - all other SMSF assets are protected.
