A party to a trust, often a trustee may take an action they are not empowered to do. A deed of ratification confirms that this action was approved by the authorised party and validates the action.
Deeds may contain spelling or typographical errors, these errors may be innocuous, but in some instances they can impact the validity or operation of the deed. A deed of rectification corrects these errors.
A deed will outline duties and obligations that certain parties, such as the trustee, owe to other parties. A deed of release releases that party from their duties and obligations with the consent of the party owed that duty.
This document pack provides the relevant documents to assign (ie transfer) the lender’s rights to receive debt payments. For use with both corporate and individual assignors and assignees.
A tenant who wants to leave their commercial premises and transfer the lease to a new tenant needs to ensure all the paperwork is handled properly, particularly if the transfer is connected with the sale of their business.
Changing the name of an SMSF Fund is a quick and easy process. We can provide the necessary documents to enable this change.
Townsend's Lawyers prepare the necessary legal documents to validly add, remove or replace trustee(s) of a holding trust to ensure that the change in trustee has been validly effected and recorded.
For all the relevant documents to change the name of a trust, whether a family trust, discretionary trust, unit trust, testamentary trust, or a hybrid trust. Note: not suitable for the change of name of a superannuation fund.
To change the trustee of an SMSF from an individual to a corporate trustee, or to change a corporate trustee to an individual, with no change of member.
To change the trustee of an SMSF from an individual to a corporate trustee, or to change a corporate trustee to an individual, with change of member.
Legal review of existing trust documentation and drafting of relevant trust deeds to ensure that the retiring appointor is removed and that the new appointor has only those powers necessary to the preferred functioning of the trust.
Changing the beneficiaries of a trust is not always simple. Our lawyers can review existing trust documentation, including relevant trust deeds, and draft documents to ensure that the retiring beneficiaries are removed entirely and that new beneficiaries are validly appointed.
Changing the trustee of trust can be complicated by various issues. For advice in changing the trustee when the circumstances are complex and including a change in membership of the fund should it be required.
Please note: Clients should consider whether this document is suitable for use in respect of NSW property as from 1 July 2022 the document may be subject to ‘ad valorem’ duty levied by Revenue NSW.
Trusts that hold or intend to hold residential property in New South Wales, Victoria and Queensland may be liable to surcharge land tax and/or surcharge purchaser duty if any of their beneficiaries qualifies as a 'foreign person', regardless of the specified law of the State set out in the trust deed which governs the trust. The surcharge is in addition to any land tax the trust may already be paying.
This product bundle allows clients to change the trustee of their SMSF, and to update their Enduring Power of Attorney accordingly.
Special disability trusts can be set up by family members or carers for beneficiaries who suffer from a severe disability. They are means tested and stringently assessed.
When changing a trustee of a discretionary trust it is vital to ensure that the procedure for changing the trustee is followed exactly to the letter. Incoming trustee eligibility, States Duty Acts, and taxation consequences must also be considered.
Need to convert a fund but can’t find the original deed? The fund may be able to simply provide evidence of the lost deed or might need to create a whole new deed and perhaps re-settle the trust. Service includes legal advice, specific tailoring and conversion to a SUPERCentral SMSF deed.