Background) I want to keep an investment property as one day i want to live there. My ex wants to sell. The property was neutrally geared lets say ($4k monthly P&I repayments of which ~$2k was interest). Then corona hit and rent return dropped 40%. In May, settlement proceeds from the sale of the only other real property were put on this loan. Now interest is ~$1k and if adjusted, P&I would be ~$2k. Property would again be neutrally (slightly positively) geared. My ex is refusing to allow adjustment of the $4k monthly P&I and thus loan is ~10 years in advance.
Final hearimg date is late 2021
Q) If i want to retain the property, can i be made soley liable for all associated costs of the property prior to the final Property Settlement Orders? Or would that only occur upon final property settlement.
Q) could a judge in an interim hearing force transfer of that asset into my name soley despite property orders not being finalised?
I suppose bottom line is if corona lasts longer term, property settlement goes all the way to the final hearing, and repayments are forced to be paid at the $4k, then that will be a cashflow burden.
Final hearimg date is late 2021
Q) If i want to retain the property, can i be made soley liable for all associated costs of the property prior to the final Property Settlement Orders? Or would that only occur upon final property settlement.
Q) could a judge in an interim hearing force transfer of that asset into my name soley despite property orders not being finalised?
I suppose bottom line is if corona lasts longer term, property settlement goes all the way to the final hearing, and repayments are forced to be paid at the $4k, then that will be a cashflow burden.
