I have an attorney friend and client who was about to buy a residential property for rental and quite rightly wanted it to be owned by a company within a trust. The problem was that he didn’t have a trust yet and in those days we didn’t have shelf trusts. He needed to sign the deal straight away and asked my advice. I advised him to sign the deal on behalf of a “company yet to be formed”, then form the trust, then form the company with the trust as the owner. He didn’t take my advice and ended up paying…
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