Transferring ownership

Hi everyone,

Does anyone have any thoughts or know the procedure to transfer the ownership of a property from a trust to an individuals name without a direct sale?

My example is that my dad current owns a property under a trust and wants to transfer the ownership to my individual name so I can use it as my PPOR.

*I just realised I post this under the wrong section, sorry!*

Ta.
 
Who is the legal owner? Any mortgage?

Trustee must transfer title. stamp duty probably applies - depending on the state and it would be a CGT event.

Seek legal and tax advice before doing anything.
 
Loads of issues affect this. Its also possible its not dutiable in some trusts if its done correctly. ie Trust merger. The nature of the trust and the deed need review to determine some issues.

Seek legal / tax advice in the state where property is located. The advice should consider why you seek to do this, costs and the asset issues arising from doing this.
 
My dad's trust is the legal owner with no mortgage.

Thanks guys, i hope to check it out

A trust is not a legal entity and cannot own anything. Check the certificate of title. It is the trustee that owns property. Who is the trustee? Dad or a company?
 
Then he would have to transfer the property to you.

But do geg legal advice as there are issues with stamp duty, estate planning and asset protection - not to mention tax!
 
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