Can a SMSF buy property jointly with a member? Yes. The member and the SMSF trustee can own the property jointly as tenants in common. It can be in equal shares or unequal shares. However the property cannot be mortgaged Alternatively A trustee of a unit trust, X Pty Ltd can own the property and the member can own some units with the SMSF trustee owning the remaining units in the trust. The property cannot be mortgaged. The advantage of the second scenario is that with a residential property the SMSF can later acquire the units of the member.