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Legal Advice
SMSF Property Loans
Sunshine Coast | Brisbane | Queensland | Australia wide
Queensland Legal offers tailored legal advice for SMSF loan members, ensuring they understand the intricacies and obligations involved in being a guarantor. This service, vital for SMSF trustees purchasing investment properties, is facilitated with modern conveniences like electronic signing and remote witnessing and provided Australia wide. Aimed at nationwide clients, Queensland Legal simplifies the process, offering fixed fee and fast turnarounds.
A Self-Managed Super Fund, or SMSF, is a private superannuation fund that allows you to manage your own superannuation investments for your retirement.
A SMSF loan is a loan used by an SMSF Trustee to purchase an investment property. The returns on the investment are then funnelled back into the super fund for your retirement.
Self-Managed Super Funds are highly regulated, and borrowing for them is not straightforward. The main difference to traditional borrowing is the lenders ‘limited recourse‘ to the underlying asset itself.
Because of the nature of super fund loans, each SMSF Member must usually personally guarantee the borrowing for the SMSF Trustee.
As such, the SMSF Members must see a lawyer to obtain legal advice (as personal guarantors) on the effect of these SMSF mortgages and the risks involved.
Thankfully, Queensland has now passed legislation that allows for Deeds to be signed electronically and without a witness. Further, when a witness is needed, legislation was passed allowing a solicitor to witness a signature remotely. So, subject to the lenders approval, we can now offer this service to SMSF Members Queensland wide.
How to get a Solicitors Certificate for a Personal Guarantor (Member) of SMSF Loan.
1. Get your Documents
The lender will send you a number of loan documents in the mail (or increasingly by email) addressed to you as the Personal Guarantor. Including special SMSF loan terms.
Once you have all those documents you need to read them yourself carefully.
Tip: Double check your documents to ensure the legal advice is a mandatory requirement. If not, getting the advice is your choice.
2. Contact Us
You need to get us a copy of all the documents (you can upload them when you book online) so we can read over them before setting up an appointment to give you the legal advice you need.
That appointment normally takes around 45 to 60 minutes and must be attended by you personally alone, either in person, by phone or by video conference.
If there is more than 1 guarantor, then we will need to see each of you separately.
Note: Come ready to ask all the questions you might have on the SMSF Loan Terms and the Guarantee documents.
3. We provide your Certificate
After receiving our legal advice, if we consider you understand the nature and effect of a Personal Guarantee, we’ll provide you with an independent solicitors advice certificate and you’ll be ready to provide that to the bank or other lender.
If you want to, and feel ready to, we will also witness you sign the Deed of Guarantee..
If you are not ready, take some time to think things over first.
Fixed Fee Service
So What does it all Cost?
We offer a fixed price service, that is applicable to most lenders that offer Self-managed Super Fund loans. It covers the provision of our legal advice, completing the legal advice certificate for the Personal Guarantors, and witnessing any further documents to be signed by you.
- A Single Guarantor (SMSF Loan) $795
A fixed fee, inclusive of G.S.T for reviewing the deed of guarantee, and loan documentation, providing the necessary legal advice to you and providing our advice certificate.
- Two Guarantors (SMSF Loan) $995
A fixed fee, inclusive of G.S.T for reviewing the deed of guarantee, and loan documentation (same terms for each borrower), providing the necessary legal advice to each borrower separately, and providing our advice certificate.
- Complex Arrangements from $1,195
If the loan or financial arrangements are particularly complex or involve more parties then we may need to provide you with an estimate of fees after receiving the loan documents and before we give the advice.
Why Choose Queensland Legal
Queensland Legal is proudly operated by Michael Turner, the Principal Lawyer and Solicitor.
My ambition extends beyond mere legal representation; I am committed to fostering enduring partnerships with my clients, built on a foundation of trust and mutual respect.
It is my objective to continually deliver exceptional value to your business, ensuring prosperity and growth for years to come.
Let Queensland Legal be your partner in navigating the complexities of the legal landscape, securing a successful future for your business.
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