NSW Separation - Property Settlement Entitlements?

[kyc]

Hi,
I have recently had a separation with my partner and I want to buy her out of our house in property settlement. If I have paid nearly all of the mortgage since we have lived here (2 years ), am I entitled to more than half the equity under Family Law?

Cheers for any help.

 

[Sophea]

Hi Kyc,

No. Family law does not prescribe any set rules or formulas for deciding what percentage of an asset should be apportioned to each member of a separating couple. It has to be either negotiated between you as a couple - at law you are free to decide on whatever settlement you wish in this regard. Otherwise if you can't agree between yourselves you will have to have the court determine the issue. The court approaches property divisions on a case by case basis and considers all the circumstances surrounding your situation, including the financial and non financial contributions of you and your ex, the total of all your joint assets, and the future needs of each partner. Therefore, there is no way of stating what your legal entitlement is to the property assuming you are registered on title as joint tenants.