Join Australia's most dynamic and respected property investment community

Not on Title but on WILL

Discussion in 'Property Finance' started by klabat, 22nd Sep, 2015.

  1. klabat

    klabat Well-Known Member

    Joined:
    4th Jul, 2015
    Posts:
    69
    Location:
    Australia
    Could you use the WILL component of a share in the assets to extract equity?

    Or does it need to be your name on the title?
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,600
    Location:
    Adelaide, SA
    So you're suggesting bank gets its money back in the event of parents dieing which could be 0-25 years from now?

    Are you serious?
     
  3. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    2,976
    Location:
    Brisbane
    The will can be changed. o_O
     
  4. Terry_w

    Terry_w Solicitor, Finance Broker, CTA Business Member

    Joined:
    18th Jun, 2015
    Posts:
    9,043
    Location:
    Sydney
    What does that mean?
     
  5. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,241
    Location:
    NSW
    Or successfully challenged.
     
  6. larrylarry

    larrylarry Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    3,508
    Location:
    Sydney
    Will only takes effect upon passing of the testator.
     
  7. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    694
    Location:
    Sydney
    I've got no money in the bank, but I've got a lottery ticket for tonight's draw, can I use that as a deposit?
     
  8. skater

    skater Capitalist Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    1,421
    Location:
    Sydney
    I'd rather have the person alive, than a share in their money.
     
    JacM, Nemo and spludgey like this.
  9. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    2,976
    Location:
    Brisbane
    ... And I know all about that o_O
     
    EN710 likes this.
  10. Nemo

    Nemo Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    265
    Location:
    Somewhere
    Hopefully they live a long life and get to spend it all themselves.
     
    JacM likes this.
  11. York

    York Finance Broker Business Member

    Joined:
    24th Jun, 2015
    Posts:
    1,624
    Location:
    Sydney
    Has anyone else noticed new members sign up and ask weird questions? When they dont get the answers they were hoping for, we never hear from them again.
     
    sumterrence and larrylarry like this.
  12. Perthguy

    Perthguy Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    4,798
    Location:
    Perth
    My parents were very averse to "spending our inheritance". It took years to drum it out of them. At first is was... no, we don't want to spend your inheritance. Then it was, we really need a new car, can we buy one? I kept telling them, it's your money, enjoy it while you can! Now they say: we are going on anther cruise. And I say... have fun! :) Besides that, they are property investors... :cool:
     
  13. dabbler

    dabbler Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,722
    Location:
    Sid en e - olympic city
    LOL....exactly what I thought.......higher thinking ? but then we are all spending others money these days, so why not the portion you expect to inherit, make it non recourse and I am in.

    @York Polides yes, like the one on the NB thread who wants to find out more about NB and get onto it......but does not like the search functions or doing own research.
     
  14. CU@THETOP

    CU@THETOP Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    227
    Location:
    Brisbane
    Why not talk them into getting a reverse mortgage and then borrowing the money from them directly. Don't have to worry about any pesky paperwork that way.
     
    sumterrence likes this.
  15. sumterrence

    sumterrence Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    172
    Location:
    Sydney
    I believe you just solved his problem lol