Co-Ownership Agreements v. Binding Financial Agreements: Which one is right for me?

A ‘Co-Ownership Agreement’ is a great idea if you are considering purchasing a property with one or more other people. As discussed here, it will reduce the chances of an expensive ‘separation’.

However, if you are purchasing a property with your ‘spouse’ or someone you are in a ‘de facto relationship’ with under the Family Law Act, a Co-Ownership Agreement will not be legally binding if your relationship breaks-down and you have a property settlement that is governed by the Family Law Act.

If you are purchasing a property with a spouse or de facto partner – and you wish to agree up-front on who will get what if your relationship breaks-down – then you should consider entering into a formal Binding Financial Agreement, or BFA, under the Family Law Act.

For more information about BFAs, read this.

For more information about Co-Ownership Agreements, read this.

If you would like some advice about your own particular circumstances, call us on 1300 654 590.

P.S. We also think this is a great article on buying property with other people: https://supernuclear.substack.com/p/co-buying-property-with-friends


Want to know more?

Click here to find out more about how we can help you with your Property & Assets

Click here to find out more about how we can help you with your Personal Relationships

Our Great Lawyer Guarantee

We want to be part of your team over the long term. We'll achieve this by sticking closely to the following principles:

  • We'll listen carefully to understand what you want to achieve. Then we'll thoroughly explain our advice and step you through the documents. You can be sure you'll know the full consequences.
  • Our lawyers work as a team, so someone will always be available to answer your questions, or point you in the right direction. You will also benefit from a range of perspectives and experience.
  • One of our key goals is to pass on as much knowledge as we can, so you can make your own informed decisions. We want to make you truly independent.
  • We only do what we're good at. You can be confident that we know what we're doing and won't pass on the cost of our learning.
  • For advice and documents, we provide a fixed or capped quote so you don’t take price risk. If you're in a dispute, we'll map out the process and costs so you know what to expect.
  • We're not in this game for our egos. We're in it for a front row seat to witness your success

We measure our success on how efficiently we have facilitated your objectives, enhanced your relationships, and reduced the level of stress for all involved.

If we sound like people you can work with, call us now on 1300 654 590 and speak directly with a great lawyer.

Call and speak with Marie on 0426 134 179

She will guide to you a fresh start.

Specialist Accreditation Family Law

The legal issues you must consider before getting married…

Deciding to get married is a big emotional decision. But it’s also a massive legal and financial decision. Asset ownership, asset protection, super, life insurance, decision making, estate planning and family financial support, all need to be carefully considered to provide a solid legal foundation for a successful life together.

read more

How do I comply with my parenting orders during the COVID-19 crisis?

Many parenting orders put in place by the Family Court may not be able to be strictly complied with during the recent and ever-evolving coronavirus pandemic.
The Family Court has issued advice to parents who cannot practically comply with parenting orders already in place or who feel that for the safety of their child, the orders should not be followed at this current time.

read more