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If I am paying off a house with my ex not divorced separated…

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If I am paying...

If I am paying off a house with my ex not divorced separated what are my rights in a property settlement I do not work on pension

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

Nsw

Lawyer's Assistant: Have you talked to a lawyer yet?

No don't have money to spend just worried sick

Submitted: 11 months ago.Category: Australia Law
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Answered in 12 minutes by:
9/18/2017
Solicitor: Leon, Solicitor replied 11 months ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,901
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
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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.

The law does not just look at a single asset it looks at all assets and liabilities in joint and individual names.

The Law will apply the following 4 steps in any property settlement

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

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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