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NSW Do We Need a 50-50 Split in Property Settlement?

Discussion in 'Family Law Forum' started by Mark victor, 11 August 2016.

  1. Mark victor

    Mark victor Member

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    Hi,

    I am getting a divorce in next month since I married on Dec 2009. December after 12 months separation from July 2015 - July 2016. I am 36 years old, and my ex-wife is 33.

    Regarding property settlement and asset pool, how this is considered? I was renting the said property March 2010. My ex-wife arrived from overseas April 2010 on a spouse visa. My employment was full time since 2007 to present. My wife is employed from Aug 2010 to date. We then purchased the same rented property.

    Till today, I have contributed 70% approx to the property and also managing all grocery purchases, house cleaning, etc. She contributed towards cooking, etc.

    Do we need to equally share 50-50 split or based on individual contribution?
     
  2. Sophea

    Sophea Well-Known Member

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    Hi Mark,

    There is no rule when it comes to property settlements. It is whatever you negotiate between you and agree on, or if you can't agree, whatever the court decides.

    The court will essentially come up with the joint asset pool and then distribute it according to each spouse's respective contributions and future financial needs.

    Here are some other posts on this popular topic:
    Property Settlement After Separation - Rarely a Case of 50:50 - Legal Blog - LawAnswers.com.au
    Spousal Maintenance – How is it Calculated in Australia? - Legal Blog - LawAnswers.com.au
    SA - Separation from Partner - Get More than 50% of Property Settlement? | LawAnswers.com.au
     

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