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Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 44851
Experience:  BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Mwife and I are part pensioners in our late60'sboth working

Customer Question

mwife and I are part pensioners in our late60'sboth working part time we want to sub divide our block and let our son and his partner build on half of it as they are low income earners. can we do we do it without it affecting our pension
Submitted: 2 years ago.
Category: Australia Law
Expert:  Leon replied 2 years ago.
Good Afternoon
My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question.
Are you giving him the land for free?
Customer: replied 2 years ago.
yes
Customer: replied 2 years ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 2 years ago.
I don't want to purchase a live phone call, thank you. I await your response to my question
Expert:  Leon replied 2 years ago.
Good Evening
Are you able to develop the land and not subdivide?
Customer: replied 2 years ago.
I don't know, I think so, how do I find out
Expert:  Leon replied 2 years ago.
Good Morning
Speak to the council
If they allow that you can develop the land and without subdividing you retain the lot.
What happens then is you prepare your will and in your will have the subdivision take place.
Until then you own the land and have not done anything to dispose of an asset.
You have to keep a record that your son has paid for the development though.
This may be an option.
I hope this makes sense and if there is nothing further thank you for using my services.
If I have missed anything, or you have any further questions please let me know
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
Regards
Leon
Expert:  Leon replied 2 years ago.
Good Afternoon
I'm just following up our discussion earlier this week and seeing whether there is anything else I can assist you with.
If I have missed anything, or you have any further questions please let me know.
If there is anything else in the future please do not hesitate to ask.
Please do not forget to leave positive feedback.
I look forward to hearing from you.
Regards
Leon