The transfer of the property as In-specie must be allowed under the fund trust deed otherwise they cannot do it - but they can get a new trust deed done that allows it and then do it.

Hi Dharam

Yes a pension payment needs to be paid in cash but yes a lump sum payment can be cash or an in-specie transfer of an asset.

Yes if they are aged 60 or older and have permanently retired they can access their superannuation either as a pension or as a lump sum payment. On that basis the USA property can be paid in-specie to the member / members and treated as a lump sum payment. The property would be transferred at its current market value.

If the property is transferred in specie it is a disposal of an asset so you would have to consider any capital gains tax considerations. If the Fund was in pension mode you could consider doing a partial commutation re the property.

Thanks

SMSF AAA