Every Document Your LRBA Structure Needs
SIS Act compliant bare trust and LRBA documentation, prepared by specialists and guaranteed to pass legal vetting by any lender.
In order for a Super Fund to purchase an investment property and borrow money, it is necessary to have a special legal structure in place.
It is estimated that 25 to 35% of legal structures fail to satisfy lender requirements, which quite often leads to delayed settlements and penalty interest being applied. This is a result of the deed rules not containing the specific wording and clauses that are unique to each and every lender.
You will have comfort in knowing that our deeds have adopted significant changes over the years to not only ensure SIS Act and regulatory compliance, but to also accommodate the individual requirements of the lenders.
We guarantee that our deeds will pass legal vetting by any lender. In the rare instance that a particular lender's requirements change without notice, we will make the necessary amendments speedily, and free of charge.
Deeds & Entities Within the Structure
Structure Components
Services 01 · 04 · 05-
Bare Trust Deed
The Bare Trust Deed is a key component within the legal structure, and extreme care is required to ensure there are no adverse GST, taxation or stamp duty consequences. The SIS (Superannuation Industry Supervision) Act 1993 requires that where an asset is acquired with the proceeds of a loan, the asset "is held on trust" with the Super Fund being the beneficial owner of the asset at all times. Once the loan is repaid in full, the asset can then be transferred to the Super Fund.
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Super Fund Trust Deed
The Super Fund must be established with a trust deed, a legal document that outlines how the fund will be set up and how it will operate. The Super Fund trust deed contains the rules that govern the SMSF. This being the case, the Trustee of the Fund must ensure that the Trust Deed contains all of the provisions required under section 67(A&B) of the SIS Act.
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Corporate Trustee
A Corporate Trustee (Pty Ltd) is required to be the trustee entity of the Bare Trust, whereas the Super Fund can have either the members of the Super Fund or a Corporate Trustee as the trustee entity. In saying that, there are certain lenders that require a Corporate Trustee for both the Bare Trust and the Super Fund Deed when borrowing money.
Premium Bare Trust Deed Package
Everything Included in the Package
Service 02-
The complete documentation suite
One package covering the bare trust deed and every supporting document your accountant, auditor, settlement agent and lender will ask for:
- Covering Letter
- Bare Trust Deed
- Agency Agreement
- Settlement Agents Letter / Notification of Acquisition by a Trust
- SIS Act S67A & 67B, Auditors 'Letter of Compliance'
- Minutes of Meeting for any/all Corporate Trustees
- Beneficial Owner Statutory Declarations
- Stamp Duty summary
- Purchaser Name on Contract of Sale summary
- Timing of Contract and Bare Trust summary
- Legal Backup (at no additional cost)
- Trust Deed/s 'signed off' by major banks/lenders
Non-Bank Loan Documentation
Loan Documentation Suite
Service 03-
Everything included
For Super Funds borrowing from a non-bank lender, such as a member of the fund, we prepare:
- SIS Act Compliant Loan Agreement
- Guarantee & Indemnity
- Acknowledgment & Warranties
- Legal Backup (at no additional cost)
Ready to Order Your Documents?
Request our order form and we will prepare your lender-ready documentation. Deeds guaranteed to pass legal vetting by any lender, with free amendments if a lender's requirements change without notice.
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