Lost Trust Variation

Hi All,

One of my clients has lost a trust variation and and her purchase will fall over without it.

I need to know what the process is when lodging a variation - where does it get lodged? Who approves it? Does a record get kept on file with the company who lodges it?

Any insight will be much appreciated.

Thank you!

 

Trusts are private arrangements. There is no lodgement or approval. They should speak to the lawyer that prepared it.

 

Thanks Terry - is there a way for them to get a new one confirming the original document?

 

they could do a new deed, but could be some serious issues.
What was varied?

 

The trustee - it went from two individuals, to a company. Then, to a different company, but we have that variation. Just not the first one.

 

rather serious as if the current trustee is not properly appointed, any decision they have made is invalid.

 

If it is known who prepared the variation it may greatly assist and they may be able to assist and advise so that the lender is satisfied.

I always suggest that important variations be kept attached after execution to the original deed. The chain of history is important for the legal vetting a lender will do. And is often asked for.

 

Absolutely - tbh this lady's book-keeping is a bit of a disaster. We've tracked down the original lawyer who will do up a deed of confirmation, so that's good!

Thanks for your help!

 

That is your answer. Well done.

 

I used to work in a firm that supplied trust deeds. We would regularly be asked if we had the original deed order to assist the process. Good news