QLD EX PAYOUT

[Palms]

Hello, joint tenants and my partner is only entitled to $6k of equity but is asking for $9k.
Unforuntely can’t afford a lawyer or solicitor so to buy him out I’ll have to give $9k.
Any advice ? I have to borrow money off my grandparents to get him out of my life. Life sucks!!

 

[sammy01]

ok - so what makes you think he is only entitled to $6k?

Also - you wanna give some more details - See for any asset division to be legally binding you both need legal advice and a legally binding contract needs to be done. NOT SURE??? but it sounds like you're thinking you can just give him some $$$ and then he walks away? NOT TRUE - WARNING WARNING. If you do that he can come back for a second bite of the cherry.

 

[Palms]

Hi Sammy ,

thank you sorry should have given more details.
It’s actually $7k but he wants $10k and says he doesn’t care about the facts and figures. It’s turned ugly unfortunately and after 7 years can not believe this is the guy I fell in love with. Nonetheless these things happen unforuntely and fortunate not be married to have kids can only imagine how much harder that would be.

I went in with $39,000 deposit (all my hard earn savings) he went in with nothing .
House value is $470,000 less $419,000 (remaining an) = $51,000 less my despot -$39,000 = $12,000 less the $5k break fee (were on fixed rate) = $7,000 each (50/50 joint tenants unfortunately)

but again, he doesn’t care about facts so I can’t afford take court or keep going solicitor so I’ll have to give him $10k to buy him out my life.

Any legal opinion will appreciate this is extremely stressful time and I wouldn’t wish it upon my worse enemy.

 

[Palms]

Bump

 

[Atticus]

Any advice ? I have to borrow money off my grandparents to get him out of my life.

Make sure you formalise it.... Having a court stamped final order draws a line so that neither can come back at a later date to seek more

I can’t afford take court or keep going solicitor so I’ll have to give him $10k to buy him out my life.....Any legal opinion will appreciate

You can formalise it in 2 ways...
1) A Binding Financial agreement (You will both need to see independent solicitors @ probably a minimum of around $2K each)
2) Consent orders via the family court.. You can e-file a consent order. Filing fee is a few hundred dollars I believe.... By far the best option in your scenario.

See a solicitor for assistance if required, but have a look at the link below for info

How do I apply for Consent Orders? - Family Court of Australia

 

[Palms]

Make sure you formalise it.... Having a court stamped final order draws a line so that neither can come back at a later date to seek more

You can formalise it in 2 ways...
1) A Binding Financial agreement (You will both need to see independent solicitors @ probably a minimum of around $2K each)
2) Consent orders via the family court.. You can e-file a consent order. Filing fee is a few hundred dollars I believe.... By far the best option in your scenario.

See a solicitor for assistance if required, but have a look at the link below for info

How do I apply for Consent Orders? - Family Court of Australia

thanks heaps yes currently doing a consent order at the moment.

 

[Palms]

Sorry to bump this one. Finalising the court order now - I'm shocked how detailed it has to be even though we have only been joint tenants for a year. I guess it has to be formalised so he wont come back for more. Do I really need to say my super and his super ? as well as my personal savings? Also, seems unfair that I am paying the legal cost and the $5k fixed break rate. I have talked down the agreement to $6,000 although he wants $8,000 in this current COVID climiate he is even lucky to get $6,000 having not put any deposit and barely any equity in the house after only one year.

 

[sammy01]

I know it hurts now. But short change to get him out of your life.

 

[Palms]

Thats exactly what it is buy out money to get rid of him! Just really sad after 7 years its not civil. I guess the saying is true when they say if you want to know what someone is really like marry them and then divorce them.