Quote:
Originally Posted by jay68802
So the property goes from family owned. Then to a family trust. The trust then starts a company Forest View Apts, then the same trust starts Hummingbird Ltd. Or a couple of trustees started Hummingbird and bought the property from the trust.
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It was more like owned by John Smith until his death at which point it was transferred to the John Smith Marital Trust. A marital trust would allow for the transfer of assets to a surviving spouse without being subject to estate tax. The subsequent name changes could be due to the death of Mrs Smith at which time the apartments would be transferred to the residual beneficiaries of the marital trust.
