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I bought a block of land and the title is in my name only.

Customer Question
I bought a block...

I bought a block of land and the title is in my name only. The house we built on that land is in joint names and is mortgage free. What happens if we would separate?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

WA

Lawyer's Assistant: Has anything been filed or reported?

What do you mean?

Lawyer's Assistant: What confuses you?

Reported to who?

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No that is just my question as my partner believes that the house is mine legally as I owe the land

Submitted: 11 months ago.Category: Australia Law
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Answered in 10 minutes by:
9/14/2017
Solicitor: Leon, Solicitor replied 11 months ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,923
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Verified

Hi, I am Leon, a NSW Solicitor. I will be assisting you with your question. If you choose a telephone call, you will be charged an additional fee.

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Solicitor: Leon, Solicitor replied 11 months ago

Good Afternoon

It would all form part of the marital assets and split. The law will apply the following 4 steps

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

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Customer reply replied 11 months ago
We are married since 25 years, the house in question was built 5 years ago. My husband is convinced that if I would decide to leave (which I have no intention to do), everything would be mine as I bought the block of land in only my name. so this assumption is incorrect?
Customer reply replied 11 months ago
Would prefer communicating via message
Solicitor: Leon, Solicitor replied 11 months ago

It is a long marriage and if everything is equal you would each get 50%

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Customer reply replied 11 months ago
it does not matter that I did not work for several years due to the birth of our daughter and later on only worked part time?
Solicitor: Leon, Solicitor replied 11 months ago

Good Afternoon

no they are contributions as homemaker.

As it is a long marriage the starting point is 50%/

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Customer reply replied 11 months ago
Need to mention as well that my husband had a unit when I met him that we sold and built our first home paying a mortgage, while I was looking after our daughter
Solicitor: Leon, Solicitor replied 11 months ago

Good Afternoon

It is all split.

What you each had when you met, is now mixed in because of the length of the marriage.

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Customer reply replied 11 months ago
That is all I needed to ask, it was more a matter of who is being right lol
Solicitor: Leon, Solicitor replied 11 months ago

Good Afternoon

All the best and good luck

I hope this makes sense and is of assistance. If you wish a phone call please elect for one but be aware it will be an additional fee. 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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