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My ex husband and I were married in 1997 and bought house

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My ex husband and I...
My ex husband and I were married in 1997 and bought house together (the first with my name on the title). We separated in 2002. We had two children together. We are still not legally divorced. Since separating he has refinanced and bought other properties and my name is ***** ***** on the mortgage but it is on the deed to the property we bought together. he still has the house. I need to know what Im legally entitled to as a formal property settlement has never occurred. Thank you.
Submitted: 2 years ago.Category: Australia Law
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Answered in 6 hours by:
7/11/2015
Solicitor: Leon, Solicitor replied 2 years ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 45,098
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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Good Morning.My name is ***** ***** I am a NSW Solicitor. Thank you for your question, and will do my best to assist you with your question. Please understand this is not legal advise Please understand this is not legal advise but a guide to assist you.You are entitled to make a claim because you are still married. The time limit starts to run after you are divorced you then have 12 months from the date of the divorce. So you are within time. Because there has been addition assets purchase since the separation it will be messy if you cannot reach an agreement. The law applies the following steps in all property settlements. The steps are:1. Consideration of whether a property settlement is necessaryThe first important consideration for the Court is to determine whether or not it is actually necessary to proceed with a property settlement.In the vast majority of cases, the Court will decide that it is just and equitable for there to be a property settlement or a change in the ownership of a property. However, in some cases, the Court will decide that each party should simply keep what they presently own.This may be because:the parties have decided to keep their financial affairs and arrangements totally separate throughout the relationship;the relationship was of a very short duration; orthe parties separated many years ago and have organised their affairs on the basis of an informal agreement since that time.2. Identify and value the assets and liabilitiesThis involves compiling a list of all assets and liabilities (including superannuation) that are in the individual and/or joint names of you and your former spouse/partner, and attributing a value to them.Values can be approximate or may be determined by way of a formal valuation, as they should be as accurate as possible. The result should be a table of assets and liabilities which your solicitors will use to determine the value of the total asset pool to be divided. It is also standard practice to establish what the asset pool was when you first started living together (which may have occurred prior to marriage) to work out any increase in asset values and to establish what each party brought into the relationship (referred to as initial contributions). 3. Assess contributionsOnce an asset pool has been established, your solicitor will ask questions about each party’s contributions to the asset pool.Contributions can be:financial (such as by way of income, mortgage payments or inheritances);non-financial (such as labour to undertake renovations); orby way of being a homemaker and parent.Contributions are usually calculated as a notional percentage, such as 50/50 or 60/40.4. Assess “future needs”Once contributions have been assessed, your solicitors (or the court) will consider what are referred to as the “future needs” of both parties. These include:the age and health of the parties;the earning capacity of the parties;whether one party will have the care of young children;the duration of the marriage or relationship; andany other relevant consideration. The assessment of future needs will impact the notional percentage reached in Step 2, so that the percentage split of the asset pool may increase or decrease in favour of one or other of the parties to take into account any relevant future needs factors.5. Is the division of assets just and equitable?Taking each of the previous steps into account, your solicitors, or the court, will then consider whether the final division of assets as proposed by the parties is just and equitable in all of the circumstances. This may involve assessing the practical effect of any proposed division of the asset pool. It is form the following link http://www.landers.com.au/publications/family-and-relationship-law/property-and-financial-settlements-following-separation-or-divorce/I cannot give you a percentage you would be entitled to thesis a difficult matter. You should speak to a solicitor that practices in family law and give them a fill history. The law society of WA can refer you to a solicitor that practices in family law. Their website is as follows:https://www.lawsocietywa.asn.auI hope this makes sense and is of assistance. 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. RegardsLeon
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Leon
Leon, Solicitor
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Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)

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