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Mario Thorne: McVeagh Fleming Associate on the Government streamlining the process for selling houses owned by family trusts
Published 11 months, 1 week ago
Description
A property lawyer says new proposals take a major burden off realtor's shoulders.
The Government is streamlining the process for selling a house held by a family trust - as it makes changes to laws preventing money laundering.
It says real estate agents must currently collective excessive amounts of information about the trust.
But McVeagh Fleming Associate Mario Thorne says documents are often missing - or never existed.
"You're dealing with really straightforward situations where it's clear where the funds have come from - and then to cast the net too wide and ask for these invasive documents, it's cracking a nut with a sledgehammer."
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