Who Gets The House In A Divorce
Justice Family Lawyers Sydney
It is hard to predict who will get the house in a property settlement.
Each case is looked at individually, so even though you may look through similar previous cases, this will not necessarily indicate how your property settlement will end up.
Remember that a divorce order only ends the marriage. Deciding who gets the house, along with other assets, is done either between the ex-spouses themselves or in court in a property settlement. In a property settlement, the court determines the value of the couple’s assets and liabilities and places the assets that are to be shared in a divisible pool. Each party’s share of this pool, including who gets the house, is determined by examining the contributions they made to the relationship, along with their current and future needs.
Contributions can be financial, such as income earning, or non-financial, such as household maintenance and caring for children. The court looks at different factors including each person’s ability to earn an income, their age and health, the care of children and any other relevant details. The percentage the parties will receive of the property pool is adjusted according to these factors and their contributions.
These adjustments include determining who will receive which specific assets, such as the house, any other properties or motor vehicles. Obtaining a property settlement is done by applying to the court for financial orders.
There are certain time limits in which you can apply. If you were in a de facto relationship, you can apply for financial orders up to two years after the date of separation. If you were married, you can apply from the date of separation up until one year after the finalisation of your divorce. Otherwise, the court treats de facto property settlements and married property settlements the same.
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