NSW Stat declarations for shared ownership

[PHLJ]

If you have a stat declaration saying you own half of a property even though it's in somebody else's name does it count for anything if you split?

 

[Rod]

Property as in land? Who signed the stat dec, who is the somebody who's name is on the title, what are the relationships between all 3 of you (Stat dec signer, you, person whose name is on the title)?

 

[PHLJ]

The stat dec was just in my name and my ex-partner's name and signed by us both and a JP. It states that we share a unit 50/50 as owner's. The loan is in her name but we were both paying it off. She bought it in 2009 while I was still living and looking after my elderly mother. In 2010 my mother passed away and I then moved into the unit with my ex and started to share the loan (stat dec was made a few years later). We had been together as a couple since 2006. And had become engaged in January 2010.

In 2015 we bought a house together (in both names) and subsequently moved in during September of that year. And rented out the unit. We both paid our share of the mortgage of the house and still do.

My ex now wants to pay me the equity due to me from the unit while she keeps the unit and the house solely as I can't afford to pay her out. She works full time with a great pay while I'm only an office casual on minimum wage but it's a five days a week job.

She also has a 14 year old daughter from a previous marriage so has that extra ace up her sleeve.

 

[Rod]

OK. The stat dec helps, but by itself is not definitive.

My ex now wants to pay me the equity

In what proportion for the unit, 50:50? What about the split of the house, is that fair according to what you believe?

 

[MartyK]

From what you have said, you appear to have a interest in both properties. For the investment property, you could look into placing a caveat on it. Might offer you a degree of protection while settlement is underway?

 

[sammy01]

yup - I reckon you re entitled to close to 50% of everything, including combined super