QLD Partner Filed for Bankruptcy - Can I Buy My Own Home?

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12 March 2018
Basically. My partner has filed for bankruptcy. I would like to purchase my first home sometime this year. I work full time. I am also capable of making mortgage repayments on my own. A family member has guaranteed myself to use their home as collateral to use as a deposit for my first home.

Their home has no debt owing.

Being that I am of de facto relationship, and my collateral is somebody's else property, how can I ensure that my family member's property is safe from my de facto in terms of a separation? We have separate incomes. No joint accounts or debt accumulated together.

How can I successfully guarantee that if we separate, my partner can not take something he has no legal tie to?

Do I just ensure there is no money transferred between us before purchase of said home? Do I have to get a solicitor to draw the paperwork up "similar to a pre-nup"?

I am not mentioned on my partner's bankruptcy paperwork.

In all honesty, if there is no guaranteed way of making sure my family member's property Is safe, I will not be going ahead with the collateral.


Well-Known Member
10 January 2016
You definitely need legal advice before making any financial purchases the way you have described above and they will likely then refer you to professional financial advice as well.

I am pretty sure this won't come as a revelation to you.

Good luck

Glenn Thexton

20 October 2016

You can protect the real property (and any other property real or personal) by entering into a Binding Financial Agreement under the Family Law Act. There is specific provision for binding financial agreements during defacto relationships. You should speak to an experienced family lawyer as the documents have very specific requirements in order to be valid and binding, and also, they must be comprehensive as their effect is to oust the jurisdiction of the Court to make property settlement orders in the event of a separation.