NSW Property Settlement - How are Expenses Divided?

[Radiation]

Hi all,

Could you someone help on this please:

As a part of the divorce property settlement, our home which was jointly owned is being sold and the sale proceeds will be divided as per the court order. Prior to selling the house, some minor repairs to be done, floor and garden needs to be cleaned, which will incur some expense. The question is how these expenses are divided between both parties usually. Are there any standard rules around it or it is left with the both parties to come to an agreement?

If the court order says the property will be divided as 70 / 30, is it fair to follow the same ratio for the above said expenses and also for real estate agents fee as well? There is no clear directions from both side solicitors on this .

Thanks in advance.

 

[Lance]

Hi,

Normally the cost for repairs, cleaning and agent fees would come out of the proceeds and then the 70:30 split happens with the remaining monies.

 

[Radiation]

Hi,

Normally the cost for repairs, cleaning and agent fees would come out of the proceeds and then the 70:30 split happens with the remaining monies.

Thank you very much for the information..