This is a big question. The answer is going to depend on a range of factors, but there are some general rules you can apply.
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.
It's relatively easy to get into property ownership with someone. But it can be considerably harder to get out. Particularly if you don't have a co-ownership agreement in place. Find out what court remedies may be available to you NSW if you find yourself stuck in a property.
Deciding to purchase property with another person is likely to be one of the most significant financial decision you may make in your lifetime. Unfortunately, things do not always go to plan and it may be the case that one of you wants ‘out’.
Is there any CGT or stamp duty when a joint tenant transfers their interest to the other joint tenant?Andrew2017-03-08T13:36:35+09:30
Is there any CGT or stamp duty when a joint tenant transfers their interest to the other joint tenant?
What are my options for owning and managing property jointly? How can I avoid disputes with my co-owner?Andrew2018-06-14T15:57:03+09:30
Tenancy-in-common ownership gives each co-owner title to and control over a fixed interest in the property. This makes it a flexible and autonomous way to own property. But what happens when the co-owners don’t agree?
Hear Andrew Andreyev on ABC Radio 891 Drive-time in Adelaide discuss the pros and cons of buying property with family and friends.
Property is relatively easy to buy - and even easier to buy with a friend. But if you haven't planned for when things go wrong, the whole exercise can turn into an expensive debacle.