My brother and his girlfriend are separating.
They have a house together, and some other debt.
What is the best way of going about it? Should they see someone for some advice? who?
Registered User
Advice please.... separation.
My brother and his girlfriend are separating.
They have a house together, and some other debt.
What is the best way of going about it? Should they see someone for some advice? who?
Registered User
Geez I just had a heart attack Ange!
Registered User
So did I!!!! I can't even reply now!! Deep breaths....deep breaths...
Registered User
sorry! no not me!
My poor little bro.
Registered User
Will one of them be keeping the house? If so, they'll need to get a valuation done to determine market value and generally the other person is paid half of the increase since purchase price (depends on the splitting of other assets) The title will need to be transferred into 1 name (requires some legal work) and the mortgage refinanced. This can sometimes be difficult because the mortgage is usually taken out with 2 wages and is not able to be supported by 1 person. I used to work in mortgage lending and whatever he does - don't get advice from the bank lender, they only have their sales target to worry about. If the situation is complicated i would advise him to seek legal advice.
HTH
BellyBelly Life Subscriber
me too!! You really shouldnt do that to us poor pregnant ladies, nearly gave the baby a heartattack!
As they are not married any disputes will be handled by the civil court not the family court, unless they have children. Hopefully they can sort it amicably because my sister and her de facto were at it for over four years before she saw any money from the house and even then he screwed her over right royally only because he wore her down and she was so desperate to see something she took a huge loss.....and this was even when they had a child together. Family court still weren't interested in the divorce part of the settlement......
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