Duties Act evidentiary requirements: Section 55
Property vested in an apparent purchaser
- Original executed Declaration of trust or Transfer
- A statutory declaration by the trustee stating:
- the intention of the parties regarding the beneficial ownership of the trust property at the time of purchase by the trustee and why the property was purchased in the name of the apparent purchaser,
- the age of the beneficiary or beneficiaries or, if the beneficiary is a company, the date of its incorporation, and
- who actually provided the purchase money for the trust property, including the deposit, payable under the contract for sale
- Where it is claimed that the beneficiary actually provided the purchase money for the trust property, documentary evidence is required. This may consist of bank statements, passbooks and copies of cheques etc. If any part of the purchase money was borrowed, details of the loan arrangements should be furnished
- For ELNO settlements:
- bank statement/s showing the transfer of funds from the bank account/s of the real purchaser/s into the general trust account of the solicitors for the real purchaser/s; then
- a screen shot of the transfer of the funds from the general trust account of the solicitors for the real purchaser/s to ELNO; and then
- a record of the ELNO settlement in favour of the vendor/vendor’s mortgagee.
- A copy of the Agreement for Sale of Land for the purchase of the trust property
- Purchaser/Transferee Declaration
See Revenue Ruling DUT 030.