What Really Happens to Property When You Separate

Separating? What actually happens to the house? Most people assume it gets split down the middle. It doesn't work that way. When a relationship ends, the emotional side is hard enough. But there are also big decisions about the family home, money and the future, and they usually have to be made when people feel most overwhelmed. In this episode of Property, Straight Up, Mel Dennis sits down with Bronwyn Montgomery, Partner at Farrar Gesini Dunn, who has practised exclusively in family law for more than ten years, for a practical and honest conversation about property and separation. Bronwyn explains why there is no default position in Australian family law, how a settlement is weighed up across financial contributions, non-financial contributions and future needs, and when a partner who moves into your home can make a claim on it. She covers why reaching your own agreement generally beats letting a court decide, how the timing of a sale gets worked out, what to think about before buying again, and why title, agreements and estate planning matter when you start a new relationship. She also shares the biggest mistake she sees, why a caveat isn't the simple fix people think it is, and why any agreement you reach needs to be properly documented. Mel adds how a Buyer's Advocate can help both parties take their next step. In this episode: • Why getting legal advice early in a relationship, before anything goes wrong, can save enormous conflict later • What goes through people's minds when separation first happens, and what needs urgent attention • Why reaching your own agreement almost always beats having a court decide for you • The common misconception that property will simply be split down the middle • How a property settlement is actually weighed up: financial contributions, non-financial contributions and future circumstances • When a partner who moves into an existing property can make a claim, and how the length of the relationship changes things • How the timing of a property sale is decided, and the competing pressures that come into play • What to think about carefully before buying again after separation • Title registration, agreements and estate planning when you enter a new relationship • Why the right team matters: lawyer, accountant, financial planner, broker and Buyer's Advocate • The biggest mistakes people make with property during separation • What to do first if you're going through a separation right now, and why any agreement must be properly documented ---------------------------------------------------------------------------------------------------------------------------------------- Please subscribe to our channel to see more great content ----------------------------------------------------------------------------------------------------------------------------------------