Jun 162010
 

The cost of registering an original trust deed generally pales into insignificance compared to the cost associated with a lost one.

One couple who had decided to change the business structure of their investment properties couldn't find a copy of the trust deed.

As the trust was created a number of years ago, they were also unable to find any evidence confirming stamp duty had been paid.

Unless they were able to locate a copy of the stamped and signed deed for their trust, or at least evidence that it was signed and stamped, they would have to pay stamp duty on the value of the dutiable property owned by the trust, being half of the mortgaged value of all of the investment properties.

If an original trust deed is registered with the Department of Lands after it is signed and stamped, a copy can be obtained from the Land and Property Information agency. This will be as good as the original.

Or a copy of an original deed could be stamped as a duplicate alongside the original. The likelihood of losing both stamped deeds would be significantly lower.

Print Friendly, PDF & Email