From $242 (INCL GST)
A Deed of Rectification is a written acknowledgement by the original trustee and the settlor that the original document did not actually state what they both intended at the time the original deed was settled.
Trust deeds are often rectified for the following reasons:
- original trust deeds incorrectly spell the name of a stakeholder;
- original trust deeds do not refer to the full legal name of a relevant stakeholder;
- deeds of variation incorrectly refer to the parties to the original deed or previous deeds of variation or the establishment date of the trust or previous deeds of variation;
- clause references pursuant to which specific actions were purportedly carried out; and
- SMSF bare/holding trust deeds refer to the incorrect asset.
The parties to the trust deed enter into a Deed of Rectification that:
- identifies the error(s) in the trust deed;
- outlines the original intention of the parties with regards to subject-matter to which the error(s) relate; and
- rectifies the trust deed by correcting the mistake(s) therein to align with the original intention of the parties as always intended.
- where the error(s) being rectified involves either the description or actions of the Trustee(s), the deed if Rectification also separately ratifies all decisions of the Trustee(s) since execution of the establishing deed.
Patricia Holdings can assist you on Deed of Rectification on different type of trust deeds, including:
- Family Trust
- Unit Trust
- Bare Trust
- SMSF Trust
What we need from you on Deed of Rectification:
- A copy of the original establishing trust deed
- Date of execution of the establishing trust deed.
- Description of the identified error(s)
- Description of the intended changes/corrections
How long does it take to complete Deed of Rectification?
All basic changes will be completed and either emailed or posted to you within one two business days, unless the extent of rectification requires unusually extensive drafting of the Deed of Rectification.
For any other changes, you will be notified by Patricia Holdings staff of an expected timeframe when you place your order.
