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Professor Brett Davies, a barrister and solicitor at Legal Consolidated, discusses the Declaration of Trust document that enables discreet asset purchases without the vendor's knowledge of the buyer's identity. This approach is useful for maintaining privacy in transactions, such as buying a desired car like a 1986 Corvette Stingray. Instead of purchasing directly and revealing ownership, a trusted individual, like a friend named Robert, can act as a trustee. This allows the buyer to remain anonymous while ensuring they retain control over the asset without appearing as the official owner.