Hi Guys
My partner and I have split, while we never lived together we were planning for the future and had invested in a house together. My partner supplied the finance through a line of credit on another property. I did all the investigation of where and how, did the inspections and the negotiating on the deal. We both contributed to the touch-up reno.
Becuase I have 4 dependents it was easier to get finance in my partner’s name only so mine is not on the title.
I had assumed I owned 50% of the property but not according to my partner.
I was wondering if I could put a caveat on the property until we have managed to sort out the deal.
Will a caveat help? How much would it cost? How do they work?
Thanks in advance
Ponyfire[confused2]Happiness is found within
Yes, put a caveat on quickly while you sort this out. You will be able to do this as you have a family law matter. A caveat costs about $100 to put on, but you may need a solicitor if you do not understand what you are doing.
Terryw
Discover Home Loans
Parramatta
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You could have had both your names on the title, and simply got the loan in your partners.
Good luck
Live, Learn and GrowLifexperience
Hate to say it, but you are screwed. Save your $100 and move on. Since you never lived together and you have already split you really don’t have a leg to stand on. Hopefully you learnt something.
Better luck next time.
Pony, I misread your sorry: “you never lived together”? Then you have a problem and may have trouble even lodging a caveat.
You may still be able make a claim tho, better seek legal advice.
Maybe one way you could argue is your partner held your share in trust for you. Proving this may be hard but you can use the fact that you contributed to the property.
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
The only caveat (no pun intended) I would apply is to seek legal advice. None of the people posting, including me, in relation to this message has, in my opinion, legal qualifications nor are we practising solicitors or barristers.
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