GET THE STRUCTURE RIGHT FOR YOU.

Start the discussion before choosing the name on the contract.

People may buy in their own name, jointly or through an entity such as a trust or company.

Each arrangement needs advice on its legal, financial and tax implications.

Ask your solicitor or conveyancer, accountant and broker to work through the proposed structure together.

Understand individual and joint ownership.

Individual ownership places the property in a person's own name.

For joint ownership, ask your conveyancer about joint tenants and tenants in common, including each person's interest and what happens when an owner dies.

South Australian guidance explains that a joint tenant's interest passes to surviving joint tenants, while a tenant in common's share forms part of their estate.

Have the ownership choice considered alongside your will, contributions, borrowing and any co-ownership agreement.

Ask what a trust or company would involve.

If your advisers propose a trust, ask who the trustee and beneficiaries are, how decisions are made and whether a discretionary or unit trust is being considered.

For a company, ask about shareholders, directors, borrowing, administration and how property income or sale proceeds would be treated.

Have your solicitor and accountant compare establishment costs, ongoing obligations, tax and estate planning for the options relevant to you.

Trust and company structures need individual legal and tax advice; the structure's name alone doesn't establish an asset-protection or tax outcome.

Treat SMSF property as a specialist discussion.

A self-managed super fund (SMSF) property purchase has separate superannuation, investment and borrowing requirements.

Ask appropriately qualified SMSF advisers about the fund's investment strategy, permitted use of the property, related-party restrictions and any proposed borrowing before considering a purchase.

Take a useful set of questions to your advisers.

A clear description of your circumstances helps the advice connect to your actual plans.

• Who will own the property and who will borrow?
• How will income, expenses and decisions be handled?
• What happens if a co-owner wants to sell?
• What are the establishment and ongoing administration costs?
• How does the structure fit with future purchases and estate planning?

Bring the confirmed structure into the buying brief.

Once the relevant professionals have confirmed the arrangement, I can use those instructions in the search and acquisition process.

My role is property buying support, with the ownership advice provided by your appropriately qualified advisers.

General information only, not financial, tax or legal advice; your solicitor, accountant and qualified financial adviser should assess the ownership structure for your circumstances.