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PieterPan

"Selling" an Inter Vivos Trust posible?

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[QUOTE=PieterPan;112045]Is it possible to sell a trust, with a farm registered in the name of the trust, and what is the CGT implication if any?
If there is no mention in the trust deed about beneficiary amendments will it be possible to add the “buyer” as a beneficiary and remove the “seller”?
Thanks
:confused:[/QUOTE]

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  1. reuphk's Avatar
    A Trust cannot be sold
  2. Mike Simmonds's Avatar
    The Farm would need to be sold out of the Trust.

    The trust will be liable for the CGT on the nett gain, unless the Trust Deed states that the Capital can be vested in the beneficiaries. One would need to study the Trust Deed to determine this.

    If the original intention was investment and the proceeds are not going to be "distributed" to the beneficiaries, then rollover relief could apply, which would mean that you could take the entire proceeds and buy another Farm or similar asset.