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Professor Bretts Davies, a barrister and solicitor at Legal Consolidated, explains the benefits of building a declaration of trust before purchasing an asset. This document allows you to secretly purchase an asset without the vendor knowing your identity. This can be useful for private matters, such as buying a car like a Corvette Stingray 1986. By using a trustee, like your best mate Robert, you can ensure that the asset is purchased without the buyer ending up owning it and paying for it. This method allows for discreet purchases while maintaining control over the asset.
