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VIC Options - Divorced but Both Names on Title Deed?

Discussion in 'Property Law Forum' started by japan, 4 February 2015.

  1. japan

    japan Guest

    We got divorced 5 years ago. I live in the house we purchased while we were married. Both our names are in the deed. Now my ex wants me to pay him half of the house –so he takes his name off the deed and he wants to buy an apartment on his own. My problem is, I am having trouble getting a home loan because of my age. I don’t want to SELL the house either. What are my options?
    Thank you
  2. Sarah J

    Sarah J Well-Known Member

    16 July 2014
    Likes Received:
    Hi Japan,

    It sounds like you and your ex-husband hold the house as joint tenants. This means that there are no "shares" that each person owns. You own the right to the whole property concurrently with your ex-husband who owns the right to the whole property. If your ex-husband wants you to "buy his share" from him, you two will need to draft a deed of partition (or apply for this). Once this is down, you will be able to valuate how much each person's share is.

    I do not understand why you have trouble getting a loan due to your age. Could it be your financial circumstances that is preventing you from obtaining the loan? Unless you are under 18?

    If your ex-husband only wants more money, one option could be that he takes a mortgage against half the property (i.e. his share of the property) and use this to purchase the apartment.

    Are you living in the property at the moment? Another option could be to lease the property out and use the rent to pay off his share of the property.
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