VIC Property Valuation after Separation and Divorce

[Baz]

Hi. I was married in 2000. In Aug 2007, I purchased a property "in my name only" for $150K , $7k deposit and the rest is a home loan. In Oct 2007 (that is 2 months after property purchase) I separated from my wife and moved out. I am paying child support since then for 2 kids.

In Aug 2014 we got a divorce. My property is now worth 300K.

In a property settlement, does the judge consider my equity of the property at the time of separation in 2007 ( 7K) or at the time of divorce in 2014 ( 157k) ?

Thanks

 

[Sarah J]

Hi Baz,

There are a number of threads that talk about property settlement in separations/divorce situations.

In short, the Family Court will look at, amongst other things:
- What you have contributed to the house (including at time of purchase, mortgage repayments, maintenance)
- Loan repayments (who contributed and from where)
- Any support your wife gave to you during this time
- Value of the asset now
- Each partner's income and contribution to shared costs (household, children, bills etc)
- Child support

I would suggest having a read at these other LawAnswers Family Law threads (compiled by @rebeccag):
- "Property Settlement if I Got a Divorce"
- "Separation and Selling Family Home"
- "New Husband wants half of everything - Where do I stand?"