Suppose X had subsidised access to a property in Australia as an Australian citizen but no money to buy it. Y gives X the full amount, say $5000 and X buys the property in his name. At the time, to non-Australian citizens, the property was valued at $20 k. The mutual understanding is the property would be divided 50/50 but there is nothing official in writing. There is discussion over the years to sort out paperwork but nothing actually comes out of it. There are many witnesses to this arrangement.
20 years later, the property is worth $2 million, X has passed on and the property is now in the spouse's name, who is aware of the mutual understanding. Y decides to get his share back.
How would the division go about under property law? And does Y have any protection?
20 years later, the property is worth $2 million, X has passed on and the property is now in the spouse's name, who is aware of the mutual understanding. Y decides to get his share back.
How would the division go about under property law? And does Y have any protection?