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I've recently seperated from my de facto partner. We have…

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Hi. I've recently seperated from...
Hi. I've recently seperated from my de facto partner. We have been living together for a number of years in which i purchased a property which i service the loan entirely on my income, and all rates, maintenance etc is paid solely by me. I am now selling the property. Does he have any claim to funds from the property? If so how much?
Submitted: 2 years ago.Category: Australia Law
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Answered in 8 minutes by:
2/13/2016
Solicitor: Leon, Solicitor replied 2 years ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,505
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Verified

Good Evening

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.

The law will give you defacto some of the total assets but it will depend on the length of the relationship.

The following steps will be applied

I cannot tell you percentages as it is not a simple formula.

Step 1: Determine what the assets are and their value

This will include all assets and their value as at the day that you are dividing them. It does not matter whose name the assets are in, they will form part of the matrimonial pool. Superannuation entitlements are also included.

Step 2: Determine what contributions you and your Husband made towards the assets.

This includes a consideration of both financial and non-financial contributions. Consideration is given to what assets each of you brought into the marriage as well. The weight given to your initial contribution will be dependent upon the length of your relationship. The longer the relationship the less weight given to the initial contribution.

Step 3: What are each of your future needs.

Consideration is given to your respective ages, your comparitive income earning capacity as well as other factors.

IF these things don't balance equally for each spouse, then an adjustment is made in the percentages.

Step 4: Make an order that is just and equitable between both spouses

There is a time limit of 2 years to file an application in court if not application is filed or you do not reach an agreement things stay as they are and nothing can be done without court consent.

I 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.

Regards

Leon

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Customer reply replied 2 years ago
Hi LeonMy partner made the equivalent of about 10% of contribution to the total assett pool by the way of paying bills etc while i paid mortgage payments, rates, maintenance and adding finishings to the property (this was to the value of about 60k per year while he paid 5-6k). We both bought nothing to the relationship at the start as we were so young. Our future needs I'd imagine are minimal are we are both under 30 and are healthy and able to work until retirement.Would this swing in my favour if it were to go to court? I dont particularly want it to go that far but when the property sells taking into account selling, agent and settlement fees, my partner wants to split everything fown the middle where as i do not feel he is entitled to 50%. Would a court see it this way aswell?
Solicitor: Leon, Solicitor replied 2 years ago

Good Morning

If it is a short relationship the court would primarily look at contributions.

If your future needs are the same and you have the same capacity to earn then this will not have any benefit to either of you.

The court will look at what you have contributed and if he has contributed less than 50% he will have to show why he should get 50%

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Leon, Solicitor
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Satisfied Customers: 46,505
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