NSW Property Rights - What are My Children and I Entitled To?

[Ritu Singh]

Hi,

I would like to understand my property rights to the following scenarios. We are a family with two kids - age 5 years and 10 years. I would like to ensure I have equal share in all investments and I am entitled to rights on these investments before the kids:

- My husband buys property in his name. Loan is in joint name, ie, my husband and myself. There is no legal will. What are my legal entitlements to the property? What are kids' legal entitlements to the property? What are the best ways to secure entitlements for myself and my kids?
-My husband buys a property, as part of a company he has formed with couple of friends. My name is not on the property. What are my entitlements to it? What are my kids entitlements to it?

Thanks

 

[Victoria S]

Ideally, you'd have your name on the property title as well. Are you intending to stay married or separate? You could get a binding financial agreement and its a good time to organise your will to cover these matters. See:

• Property Settlement After Separation - Agree Now, Don't Pay Later - Legal Blog - LawAnswers.com.au
• Can You Lock Your Ex Out of the Family Home? Your Property Rights - Legal Blog - LawAnswers.com.au
• Post Nuptial Agreement Kit - Australia - Legal Documents - LawAnswers.com.au
• Separation Agreement Kit – Australia - Legal Documents - LawAnswers.com.au