NSW What am I Entitled to as Property Settlement?

[Pra]

Hi,
My Ex and I were separated a few months back and have not gone through the property settlement yet. I am the primary carer of my 2 children; 1 and 3 years old. As a hearsay, I have been told that I am entitled for the 75% of the total property. Is that true?

My Ex and I jointly bought a property a year back, paying 12% down payment. If in case we decide not to sell the property, what would be the other options under Family Law?

Please help.

 

[Lisa White]

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[Sophea]

Hi Pra,

There are no hard and fast rules with regard to property settlements. It is up to either each of you to negotiate an appropriate settlement - you can come to any agreement you want. Otherwise if you can't agree the court will have to decide it. Each case is decided on its own merits and unique circumstances. This article talks about the process the court goes through in order to calculate what is just and equitable to each party.

Property Settlement After Separation - Agree Now, Don't Pay Later - Legal Blog - LawAnswers.com.au

The court will take into account, what each party brought into the relationship, your financial and non financial contributions to the relationship as well as your future earning capacity and financial needs.

 

[AllForHer]

Agree with the above, but don't bank on 75% if you go to court. The average is more like 55/45. Being primary carer doesn't grant any entitlement, it is only a consideration as a future need, but it's just one of many.