NSW Property Settlement Estimate

Discussion in 'Family Law Forum' started by Water123, 10 November 2018.

  1. Water123

    Water123 Member

    Joined:
    10 November 2018
    Messages:
    4
    Likes Received:
    0
    Hi, just after some guidance on a property settlement. No Kids and 12 years in total together. The brief facts are as follows. At the point of cohabitation, I have around 625K in cash. We live in a rental property for several years. I pay for all the utilities and the other's half of the rent on countless occasions with numerous promises to repay that never materialise. We buy a house. I pay 90% of the house after 5 years together and over 100K for significant costs associated with renovation not including the hundreds of hours of my time I put into the work. There's a mortgage on the house for the remaining 10% on the house they were supposed to pay until they started using it as a credit card account siphoning money so I wind up paying that off as well. I now get hit with their "homemaker contribution" that I was also doing as well along with they did the lawns, engaged a contractor and all the rest of the difficult to verify fluff. Their total financial contribution towards the house was about 14K and now they want 40% of the property pool or about 45K for every 1K they put in. Any estimates on what a reasonable spilt should be. Thanking you in advance.
     
  2. Rod

    Rod Well-Known Member
    LawTap Verified

    Joined:
    27 May 2014
    Messages:
    5,382
    Likes Received:
    754
    I suspect you are going to have to lawyer up.

    You have someone who is after a significant portion of your property and I don't think they are going to easily give up their claim.

    At face value the claim seems unrealistic but without a lot more detail it is hard to be confident in an answer. You'd need to sit down with someone and go through the situation in more detail.

    And even then because family court judges have wide discretionary powers much depends on the attitude of the judge you get.
     
    Stop hovering to collapse... Click to collapse... Hover to expand... Click to expand...
  3. Water123

    Water123 Member

    Joined:
    10 November 2018
    Messages:
    4
    Likes Received:
    0
    Thanks Rod. My barrister has advised 25% but the other legal side has been relentless in pursuing 40%. I suspect it will go to court as their legal side is presumably being on commission at conclusion of case who is also a friend of new penniless partner.
     
Loading...

Share This Page

Loading...
gt;