My partner and I are a registered de facto couple.
My partner already owns a property where we currently live. We were advised to only put a new house we want at auction in my name as I'm a first time buyer. Is this correct?
We aim to each contribute 50:50 to the home loan so ultimately we share ownership of the house and we've set up a spreadsheet to track all contributions.
We were wondering how we can make this spreadsheet a "legal document"?
As my partner will be paying a large percentage of the deposit, will there be any tax implications if he sends this money to my bank account as the loans company need to see proof of funds?
We're also both directors of a pre revenue registered company. My partner works full time on the company, and I help out evenings and weekends, so our current shareholding is 80:20.
We've been recommended to put these company shares into a family trust (although we heard some investor's don't like family trusts as you an owner can simply transfer ownership to someone else?).
Is it also possible to also hold the property in the same family trust and does this make sense?
I'd love your expert opinions on the above. Many thanks.
My partner already owns a property where we currently live. We were advised to only put a new house we want at auction in my name as I'm a first time buyer. Is this correct?
We aim to each contribute 50:50 to the home loan so ultimately we share ownership of the house and we've set up a spreadsheet to track all contributions.
We were wondering how we can make this spreadsheet a "legal document"?
As my partner will be paying a large percentage of the deposit, will there be any tax implications if he sends this money to my bank account as the loans company need to see proof of funds?
We're also both directors of a pre revenue registered company. My partner works full time on the company, and I help out evenings and weekends, so our current shareholding is 80:20.
We've been recommended to put these company shares into a family trust (although we heard some investor's don't like family trusts as you an owner can simply transfer ownership to someone else?).
Is it also possible to also hold the property in the same family trust and does this make sense?
I'd love your expert opinions on the above. Many thanks.