Hi. Could someone please tell me this , when a Corporate Trustee company administers a Trust for holding residential tenancy property and there is to be a mortgage and bank loan to be generated for the trustee to buy and hold a new rental property, is it the name of the trustee or the name of the trust that is the borrower to go on the loan document.
I remember accountant Garth Melville by quite adamant that the loan be in the name of the company trustee. However in more recent times, very well known property investor and Mortgage broker put the trust name on the loan documents.
So which is correct?
Thanks
Buzz
I remember accountant Garth Melville by quite adamant that the loan be in the name of the company trustee. However in more recent times, very well known property investor and Mortgage broker put the trust name on the loan documents.
So which is correct?
Thanks
Buzz
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