Dear Moderator, I have been asked to do the audit of a fund which owns a property jointly with Members however, when doing a Land Title Search, the title shows “ A Smith, B Smith and Corporate Trustee as Joint Tenants”. This does not show the percentage ownership however I have sighted the original “Contract for sale and purchase of land 2018 edition” which clearly shows “ABC Pty Ltd as trustee for the A & B Smith Super Fund (as to 25% share) and A Smith and B Smith (as to 75% share)”. The intention of how the purchase was to be done is very evident from the Contract but it looks like the purchases solicitor registered the property incorrectly. Can I rely on the Contract and best case seek a Statutory Declaration from Trustee and members confirming ownership or should I insist on the title being amended which could cost Fund and Members additional legal fees?

Your advice is appreciated.

PS: the names Smith and ABC P/L are fictitious.