Amendments to Trust Deed for borrowing

Amend trust deed to comply with banking requirements. Electronic delivery.

Quality documents • Premium service • Cost effective

Depending on the transaction, various banking institutions may require specific wording alterations before lending. In these circumstances, a deed of variation may be used to vary the existing terms to ensure the relevant institution is satisfied with the wording of the deed. The Deed of Variation is electronically delivered with all documents required to make your desired change to your trust deed.

Why do banks require the trust deed to be amended?

deed of rectification is a legal document that is used to rectify any errors in the existing terms. Deed of Rectification documents are regularly used to rectify spelling mistakes or rectify any anomalies within the schedule. Before making any change to a trust deed it’s very important to consider all tax and duty implications.

Depending on the age of the trust deed, the most common issues with trust deeds are:

No power to lease/hire goods and/or equipment
No power to give security for leasing/hiring of goods and/or equipment
No power to enter into all types of derivatives
No power to give security in support of derivative products
No power to open bank account

Some variations are more complicated and require advice from your accountant or a legal professional as the change may result in duty/tax implications. When significant changes are made to the trust’s basic details there may be implications which could result in a resettlement.

Deed of Variation
Manually reviewed for errors
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from $220

Documents included with the Amendments to Trust Deed for borrowing

Deed of Variation

How much does it cost to vary the deed in accordance with the banks requirements?

The deed of variation package is $220. Our highly experienced team will review the documents you have provided us ensuring your documents are completed correctly and free from errors. You will be provided with an electronic copy of your deed of variation.

How long does it take to prepare a deed of variation?

Once instructions have been received, generally your documents are produced within 1 business day - this gives us time to ensure all the information provided is accurate.

What do I do once the deed of variation is executed?

Once correctly executed, the deed of variation is a supplemental deed to your existing trust. It does not replace or create a new trust. If required, you may wish to update the relevant authorities or stakeholders of the changes that have been made to your trust. You must obtain independent legal advice prior to executing any Deed of Variation. In addition you must contact your relevant state revenue office in your jurisdiction to ascertain their current requirements for assessing the Deed of Variation.

Should I seek legal advice?

The summary displayed on this page is for information purposes only. Summary for deed of variation should be considered general in nature, and should not be a substitute for professional legal advice. You must always seek your own independent legal, financial and accounting advice about your unique situation.

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