Legal Question in Family Law in Australia
premarital property ownership and new purchases
I am currently looking at purchasing property in joint name with my fiancee and husband to be.
Both have fully owned properties in our own name and are puchasing a joint investement together for the first time.
What type of partnership contract should be drawn up to ensure that if a separation/ divorce occurs neither party loses any pre-existing assets or forfeits any legal rights to the joint home?
(My partner has assets in a trust while my home is in my personal name.)
We intend to purchase 50 /50 , I will hold my existing home as security for the loan, while his will be financed through his trust.
In the future we intend to build.
At the time of building it is anticipated that I will be a homemaker and will have no income to contribute to the cost of the building. Does this mean my 50 / 50 ownership changes in the event of a divorce?
How can I ensure I am financially looked after, if I stop work and such an event occurs???
1 Answer from Attorneys
Re: premarital property ownership and new purchases
Dear Madam,
I refer to your recent enquiry.
If you are enquiring from Australia then please advise and I will be able to provide you with specific advice.
In Australia, the law does recognise and allow parties to enter into Prenuptial Agreements both before and during marriage which can be tailored to suit your individual requirements.
In your case for instance, a Prenuptial Agreement could ensure your separate ownership of property you contributed to the relationship and also provide for you to retain that property in the event of any future separation.
If your enquiry does relate to Australian Law, please advise and I can provide you with some further information.
Yours faithfully,
Brett Hartley
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