Declarations of Trust

A Declaration of Trust is a legal document that records the beneficial ownership of a property where the registered proprietor holds the property on behalf of another person, company, trust or superannuation fund. While the registered owner appears on the Certificate of Title, the Declaration of Trust confirms who is entitled to the benefit of the property and how the ownership arrangement is structured.

Declarations of Trust are commonly used in a range of property transactions, including family trust purchases, investment properties, SMSF acquisitions, nominee arrangements and asset protection structures. As these arrangements can have significant legal, taxation and transfer duty implications, Declarations of Trust are generally prepared by a solicitor or legal adviser.

At Ing Settlements, we work closely with your legal and accounting advisers to ensure trust arrangements are accurately reflected throughout the conveyancing process. We assist with reviewing settlement documentation, ensuring the correct purchasing entities are recorded, liaising with lenders and relevant authorities, and managing any transfer duty assessment requirements that may arise from the trust structure.

Where required, a Declaration of Trust may be lodged with Landgate and recorded against the title. Upon registration of a Declaration of Trust, Landgate may also record a Registrar's Caveat on the title. A Registrar's Caveat serves as a notification that the registered proprietor holds the property subject to a trust arrangement and can restrict future dealings with the property without the appropriate supporting documentation or evidence that the interests of the beneficiaries have been considered.

The registration of a Declaration of Trust and any associated Registrar's Caveat can provide additional protection for beneficiaries by ensuring the trust arrangement is publicly recorded against the title. This can be particularly important for family trusts, SMSFs and other ownership structures where the legal owner differs from the beneficial owner.

Our team can assist with coordinating the lodgement process through Landgate, ensuring all supporting documentation is in order and liaising with your legal and accounting advisers throughout the transaction. While settlement agents do not draft Declarations of Trust or provide legal advice regarding trust structures, we can facilitate the registration process and help ensure compliance with Landgate and RevenueWA requirements.

Whether you are purchasing property as trustee, formalising an existing trust arrangement, or dealing with a property already held on trust, Ing Settlements can assist with the settlement, duty assessment and Landgate registration requirements to ensure a smooth and efficient transaction.