Client acquired a commercial warehouse under LRBA within their family SMSF. It's time to lease it out, and the lawyer is asking who will be the lessor. Should it be the SMSF or the trustee company of the Bare Trust, as indicated in the title? Any input would be appreciated.
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Hi Ishwar
My view is that the name on the lease should be the trustee company of the bare trust as it is the registered legal "owner" of the property.
If other forum members have a view please let the forum know.
Thanks
The Auditors Institute