QLD Property Settlement - How to Ensure House Purchase Remains Mine?

[Dantahls]

Hi,

I'm not sure if this is the correct section to post this, or indeed if it is the correct forum. I just wanted to ask for some help.

I wish to buy a house and I have been worried about doing so because I am separated from my husband and now have a new partner. I will be getting paid my property settlement money from my previous marriage in the next 12 months and would like to use it to put a deposit on a house.

My new partner sold his house at a loss to move in with me and therefore has no money to contribute to buying a house with me. We currently rent a house together. How do I protect myself in case our relationship doesn't last, so that I will be able to keep my house and not split it 50/50? Can I get something written up by a solicitor to say that I put X amount of dollars in and this money will remain mine if the relationship ends?

The money from my property settlement is all I will have for my kids and I, and I do worry if our relationship should end and I lose it all. My partner will be paying half the mortgage payments with me, so he would be entitled to all that he has paid into the house if we should ever part.

Does this sound right? How do we keep track of this?

Thank you.

 

[Tim W]

Don't buy a house until after you receive the settlement monies.
Wait until you have it free and clear in your hands.

The "something written up by a solicitor" can be a thing called a Binding Financial Agreement
between you and New Man In Your Life.

You should also make a (new) will at the same time.