If my partner transfers property to a trust or company, do I lose my claim to it? Not if the Court thinks the transfer defeats your claim under the Act. The property can’t be transferred back out of the trust, but you can be paid compensation. An order can be made that a company must transfer property to you, or pay you compensation.
What happens to the home if my partner goes bankrupt? You have a protected interest in half the equity in the home etc. (the market value less the mortgages). You will receive the lesser of:
- The value of the protected interest; or
- What remains after you pay:
- debts secured on the home
- debts incurred jointly or to buy, repair or improve the home
What happens to the property if my partner dies? If he’s made a will you can either:
- Inherit property under the will; or
- Apply to the Family Court to have the property divided under the Act.
What do I do if I want to protect my property and don’t want to share everything equally? Enter into an agreement. You should make a will at the same time.
I’m going flatting with my boyfriend. Will the Act affect me? – YES. After three years your relationship property and relationship debts will be divided equally if you split up.
I’ll only have the furniture my parents are giving me. Will that be divided equally? Yes – if they give it to you. No – if they lend it to you.