This is a common question when dealing with the acquisition of property under a limited recourse lending arrangement for a SMSF Trustee. The steps are as follows:
1. Complete the LRBA bank pack document on the platform -this also applies for non bank lending and related party lending. Finish the document so it goes into your Vault.
2. Forward the document to the bank or any other party requesting it but ensure that it is not signed as it is not yet a trust until it has property.
3. Once the property is known and a contract is about to be signed, relaunch the document, insert the property details, print it our, execute it and ensure the contract has the name of the holding trustee on the contract and also for settlement purposes.