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Good Morning Our divorce (amicable and through a shared lawyer)

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Good Morning Our divorce (amicable and...
Good Morning
Our divorce (amicable and through a shared lawyer) became final in NSW on 30 April 2016.
My ex husband and I are co owners of an investment property in Townsville Qld (still $250K owing to the bank). The tenants lost their mining jobs three months ago and even though they moved out are continuing to pay rent until the lease expires 3 June 2016.
Via phone call my ex husband has agreed to place the unit in the hands of an agent to list the property after the 3 June 2016. I have chosen a suitable agent and sent my ex the details and he has replied in a brief email that the agent/type of listing/and time to list is agreed by him.
Now to my concern. My ex husband has a history of depression and the resulting problems that sometime arise. While he is on medication now and agreeable to the sale of the unit, do you advise I should to anything else at this stage to protect myself going into the sale. p.s. we are currently awaiting the papers nominating the agent which we intend to co-sign by this weekend.
Thank you.
CJ
Submitted: 1 year ago.Category: Australia Law
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Answered in 23 minutes by:
5/17/2016
Solicitor: Leon, Solicitor replied 1 year ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 45,128
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 advice but a guide to assist you.Are you agreeing on how it is split? Do you have orders about this?
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Customer reply replied 1 year ago
All charges relating to the investment property are shared equally and have been since purchase 5 years ago. We each put in the same amount to the joint account which covers rates, strata and upkeep. We have discussed and agree that there is going to be additional funds required from the both of us to pay out the remainder of the loan to the bank as well as legal and agent fees etc after the sale and this has been agreed verbally. My main concern is that while my ex appears to be 100% on board with this now, I need to know how to protect my self should he change his mind for any reason. I do not believe this is likely, however was wondering what I can or should do to cover myself if this happens.
Solicitor: Leon, Solicitor replied 1 year ago
Good AfternoonIt is best to have consent orders made by the court. This way your agreement is enforceable and it finalises all claims from both of you. Do you feel confident enough to do this yourself?You don't go to court you just file the orders and the information and the court deals with it internally.
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Customer reply replied 1 year ago
I am sure there was a clause in the divorce application that referred to the future sale of the investment property. There was also a specific mention that all future profit/loss from the sale would be shared 50/50. Would this not be enough?
Solicitor: Leon, Solicitor replied 1 year ago
Good AfternoonThere is no provision for property in a divorce application. It is a separate application and here it is.http://www.familycourt.gov.au/wps/wcm/connect/fcoaweb/forms-and-fees/court-forms/diy-kits/kit-diy-application-consent-ordersYou have to file this for the property.
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Customer reply replied 1 year ago
Thank you Leon.
We lodged a Binding Financial Agreement in August 2013 with the court and this was referred to in the Divorce Application (Clause 21).
I am keen to know if this is still binding and if so for how long.
Solicitor: Leon, Solicitor replied 1 year ago
Good AfternoonA BFA is not lodged with a court you each have your own Solicitors and they each sign a certificate of advise. Is that what happened?
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