I understand how this concept works of the Family Trust loaning money to the Rental Trust and Trading Trusts and securing it with a GSA.
The money in this case being equity in the Family Home that we personally are selling to the Family Trust.
But I have no idea how this works specifically in relation to bank accounts, and actual movement of funds.
I am looking at having a Revolving Credit account set up under the TRADING TRUST for the avaliable equity in the Family Trust house and have this secured of course by the house asset that will be in the Family Trust.
Is this how it is done ?
I believe having the R/C in the Family Trust name is a no - no.
How are the loan arrangements then formalised, what is the paper trail.
As Trading Trust as well as using funds for property investing in its own right, will also need to divert funds to the Rental Trust.
Is the loan and GSA for the entire R/C limit ?
The money in this case being equity in the Family Home that we personally are selling to the Family Trust.
But I have no idea how this works specifically in relation to bank accounts, and actual movement of funds.
I am looking at having a Revolving Credit account set up under the TRADING TRUST for the avaliable equity in the Family Trust house and have this secured of course by the house asset that will be in the Family Trust.
Is this how it is done ?
I believe having the R/C in the Family Trust name is a no - no.
How are the loan arrangements then formalised, what is the paper trail.
As Trading Trust as well as using funds for property investing in its own right, will also need to divert funds to the Rental Trust.
Is the loan and GSA for the entire R/C limit ?
Comment