Can you buy your partner out of Your House?

If you have the funds to cover half of the sum they come up with, you have the option of buying your partner’s share so they no longer own part of the property. If you can’t afford to do this, you can take out a mortgage on half of the equity in your property and use this to cover your ex’s share (more on this later).

Can you buy out your ex’s share of the House?

Alternatively, you can buy your ex’s share of the equity straight out if you have enough cash on hand — $100,000, in this case. If you have the wherewithal, you can buy your partner’s share of the equity and pay off the remaining mortgage balance at the same time to settle the ownership once and for all. Get help with your home buyout!

Where can I find an agreement to buy out my ex partner?

This agreement can be found in the ‘Separation Kit’ that is on the Family Law website. You should seek legal advice from a qualified solicitor who specialises in family law before you apply for a loan to buy out your ex-partner or before you enter into any agreement with them.

Is your ex entitled to property that you acquire after?

Is your ex entitled to property that you acquire after separation? The simple answer to this question is – yes. Generally any property that is acquired after separation and before a final property settlement will be included as an asset in the property pool available for distribution even if the asset is held in only one party’s name.

Can you buy someones share of a property after divorce?

Having a separation agreement in place will also help you avoid paying thousands of dollars in stamp duty. You can find out more information about dividing property after divorce in our handy guide. The process of buying someone’s share of a property can be made a whole lot easier if you plan for the future before you even buy the property.