VIC Friend's Ex Wanting Her to Sign a Joint Loan?

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DapGuyV2

Member
5 October 2018
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I have a friend who is in the process of getting divorced. Her husband is trying to get her to sign a document related to the purchase of a property. He tells her that it is a document related to changing the property into his name, but it appears that he is trying to get her to co-sign a loan making her jointly responsible for the life of the contract. Please give me your opinion on whether or not she should sign the document and if it seems that she would be liable. Thank you in advance.


-------------Document text----------------


Sale of Real Estate Nomination Form

Relating to a Contract between:

Vendor: Batten Road Pw Ltd (ACN {26 747 993}

Purchaser: Husband and Wife’s name

Property: Location...

Nominee: Husband’s name


As the property is expressed as sold to the Purchaser "and/or Nominees" (or words to that effect) then pursuant to the conditions of the contract the Purchaser nominate the Nominees as substituted purchaser to take a transfer or conveyance in lieu of the Purchaser.

The Purchaser and the Nominees acknowledge that they will henceforth be jointly and severally liable for the due performance of all the obligations of the Purchaser under the Contract and payment of any expenses resulting from this nomination (including any Stamp Duty).

I understand that she needs to speak to an attorney, and she will, but should would like opinions on this first.
 

Tim W

Lawyer
LawConnect (LawTap) Verified
28 April 2014
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Sydney
In these circumstances, your friend should not sign anything without formal legal advice.
 
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MABLaw

Active Member
12 February 2018
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Ringwood
www.mablawyers.com
Are you sure that your friend didn't already sign to purchase this property? From the brief information you have given it sounds like what she may be signing is a nomination to change the Purchaser to his name solely, which would be consistent with a separation. I agree with Tim - your friend should definitely obtain some legal advice and have a Lawyer look over the paperwork.