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VIC Property Settlement - Home Undervalued?

Discussion in 'Family Law Forum' started by Luisa, 12 June 2015.

  1. Luisa

    Luisa Member

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    My partner signed a financial property settlement in mid August last year. The house was supposedly valued and formed part of negotiations with his superannuation and him taking on combined debt. She remained with the house and associated mortgage.

    10 months on, the house has just sold for 20% higher than the supposed valuation. The suburb has only managed just over a 5% growth in the past few years. My question is whether he has any recourse in relation to the house sale price.

    Thanks
     
  2. Tim W

    Tim W Lawyer

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    Sorry, just to be clear - are you asking if he can get any of the "extra" money
    from the higher than expected sale price?
     
  3. Luisa

    Luisa Member

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    Hello Tim. Thanks for your reply. Yes, I suppose I am or at least a concession in what he still "owes" her.
     
  4. Tim W

    Tim W Lawyer

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    Who was the actual vendor?
     
  5. Luisa

    Luisa Member

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    His ex wife sold it privately during the week. I need to say that she did get the house and its associated mortgage. The concern is about the (obvious) under valuation.
     
  6. Tim W

    Tim W Lawyer

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    Hmmm OK.
    Was it in one or both names at the time of sale?

    (I am not looking for a Family Law angle here - there are others better informed about that aspect than me.
    What I am wondering about is the prospects of an action in Equity....
    but that's something of a longer bow to draw, which is why all the questions)
     

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