Whose name is the property title in (Trust)

Really simple for anyone that owns a property in a trust

Where a property is owned by a trust (lets say a discretionary trust for the example if it matters)

What name is usually on the title?

The trust name? I didn't believe a trust could legally hold property

The trustee's name? This is my 'guess'

I really doubt that it would be in the beneficiary (unless they are also the trustee)?

So if its a trustee and if its an individual would it just state the individual's name on the title or would it also include acting as a trustee etc? Can it just be in the individual's name?

 

A trust cannot own property

It will be the trustee that is the legal owner, usually, and their name on title.

Trusts cannot even be recorded on title - prohibited by Real property act

 

Thanks that what I thought,

So generally what proof is there that the individual owns it in the power of a trustee and not the individual themself other than the trust deed?

 

Covered this in
Legal Tip 170: Proving that a Property is held in Trust Legal Tip 170: Proving that a Property is held in Trust

 

This issue often comes up with SMSFs.

Let's say XYZ Pty trades. And is trustee for the SMSF. So who owns the property? SMSF law requires the trustee ensure title is given so a caveat to benefit the SMSF is used. Auditors may qualify the audit otherwise as the fund doesn't appear to have a clear asset title. The trustee v trust isn't permitted on title as Terry says. So a caveat is best way to declare a interest

It isn't the sole way. SMSF limited recourse borrowings a complete reversal to that view. A issue for legal advice

There are many ways to have a ownership interest vs title

 

I don't think a beneficiary not a discretionary trust has an interest that allows a caveat to be lodged

 

Oh wow
That really answered my question

Thanks!!!!