NSW Buying a House After a Separation but Before Divorce?

[ABTR]

Hi,

I have been separated for over 2 months now. We had no children, no property, no debts. During marriage, we had three bank accounts, we both had a personal bank account and one joint bank account. On day of separation, I split the joint account money 50-50 to each other's personal accounts. All expenses of house were from joint only and personal account was used only for personal stuffs.

I am planning to buy off the plan apartment. Do I need to do any legal stuff before divorce and before buying this apartment? Is my partner eligible to claim part in the apartment which I will be buying from my personal income only and loan will be under my name only when I will sign the contract next year?

Thanks.

 

[AllForHer]

Yes, your ex will be able to seek a property settlement that would include the apartment. The best way to avoid issues is a) do a property settlement now and get it sealed by the Court or b) wait 10 months and file for divorce, then wait 12 months for the time limitation on filing for a property settlement after divorce to pass.

 

[ABTR]

Thanks @AllForHer

And what about the salary/income you earned after separation? That money is also included into division? Can that be claimed too, if we both are working?

 

[Rod]

Go to court now for property split. Do not wait.

 

[AllForHer]

The value of the shared asset pool is as it is on the date of property settlement, rather than what it is on the date of separation, so it may potentially be included.

 

[Rod]

Though this is a tricky area and depends on a few factors that are not mentioned in the OP. Hence why a lawyer is needed.