QLD Messy controlling family and settlement

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
9 September 2020
3
0
1
Hi Guys, currently going through settlement, Relationship was for 7 years married for 6 months and left due to DV and drug and alchohol addiction. No children. When i came into the relationship he had a house with a mortgage. The house was in a deralict state and i cleaned up immediately and maintained. 2 years into the relationship we decided to buy a business together, that he would operate and i would assist to run as i already have my own FT employment. In order to purchase the business we remortgaged the house into both names and purcahsed the business in both names.
Since ive left the marriage a special condition has appeared stating he has a loan from his parents of $160000 to purchase the house oringinally and it has his ex wifes name on it. It states in the event of a separation the loan is to be repaid. He and his then wife are long divorced. So why has this now been bought up to be repaid again after ive left him and why was this never disclosed when we remortgaged the house together to borrow for the business. The worst thing is that my Sister-In-Law is the accountant for the business and i have now been locked out of everything and she refuses to stop acting and making changes in Xero even after ive had a solicitor ask her not too.The house has since been sold and business loan paid out so its all profit that i see none of. Please help guys, what can i do. They have offered me $5K thats it after all the hard labor i put in and did nothing but drink, drugs and borrow off Mummy and Daddy. I dont expect everything as he came in with the house but 5k. The house has since been sold and business loan paid out so its all profit that i see none of.
 

sammy01

Well-Known Member
27 September 2015
4,276
622
2,894
A piece of paper? big deal, that isn't legally binding. It is toilet paper.
Surely you had to sign paperwork to complete the transaction for the sale of the house and business
 
9 September 2020
3
0
1
Yes Sammy, correct and this loan was not diclosed to the financial institutions by him (who knew) or myself as i did not know about it until i left him then boom all of a sudden he owes his parents this money, which chews up everything. I feel like fraud has been comitted via non disclosure to the bank when borrowing. Im also a director of the company and he or his sister accountant give me nothing on the business even though i have formall requested it. They want me to sign the business over completely to him and give me nothing in return.
 

sammy01

Well-Known Member
27 September 2015
4,276
622
2,894
The loan from parents is fiction. Unless they can prove differently, Im guessing they didn't have it to hand over as cash?
 

Atticus

Well-Known Member
6 February 2019
1,249
198
2,394
In order to purchase the business we remortgaged the house into both names and purcahsed the business in both names
Apart from anything else, any financial encumbrance on the property should have been disclosed to the lender at time of refinancing the place..
 
9 September 2020
3
0
1
Thank you Atticus and Sammy, that is what im trying to point out to my solicitor. What ramifications are there for not disclosing this loan to the financial institution at the time. And now two years laters it appears out of thin air. The sister in law who is also acting as the accountant for our business has also now included $35000 worth of loans im Xero that apparently the parents gave to my ex for the business and again there is no formal agreement she has just taken it apon herself to include these. I believe there is a major conflict of interest to have her as the accountant being that she is my ex's sister and no longer communicates with me in regards to my business and pretty much does anything she wants in Xero. They have locked me out to read only in Xero and all of the business money goes into his personal account. All I just want a fare settlement where he gets more because he bought more into the relationship but i contributed significantly financially and physically. they are railroading me with these issues to give me nothing. I have formally asked the sister in law not to act due to conflict of interest 5 times and even suggested that my ex choose another account that we can agree on that is impartial, however they have flatly refused. I have also just found out that an investment my sister in law suggested my Ex and I contribute too two years ago and then later told me my investment went belly up now is actually woth $80000. So glad i decided to investigate.