Custodian trust set up pack (bank lender) for real property
(individual trustees)

PLEASE CONFIRM THE FOLLOWING

1. I want to set up a custodian trustee (limited recourse borrowing arrangement) for the fund to purchase real property.


2. This is for an existing Australian SMSF fund which has a individual trustees.


3. The fund will be purchasing the property using money lent to it by a commercial lender with its own loan documents, for example a bank or financial institution.


4. A contract for purchase of the property has not yet been entered into.


5. The property is currently owned by someone completely independent of the fund.


6. I have looked at the deed of the existing fund and confirm that the fund is able to:-
   1. borrow
   2. purchase real property
   3. lease and let property, and
   4. give security by mortgage or charge (if the lender is to take security)