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Greg_M
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In a rush, post: 268417, member: 116952 wrote:
After a lot of years I find that a discretionary trust fund may solve a problem with asset protection being the main aim. However, I would like to know how, if possible to transfer ownership of real estate that is owned but mortgaged by a bank.
Any firsthand knowledge would be great.

I have used a discretionary trust for quite a few years, but not to hold real estate assets directly, but indirectly it does protect assets.

Being a legal entity in it’s own right a couple of things occur to me (as a non accountant or lawyer).

You don’t actually own it if you have a mortgage and your bank might be a bit cranky about transferring ownership.

I reckon you’d have to pay all the on costs like stamp duty to do it.

You might get what you want with just the trust in place.