Welcome to the forums.
Thank you for reaching out to us and sorry to hear about the divorce.
Firstly, you will need to get legal advice and set up a contract with the agreed price of the property. Once the property is valued, you will need to consider the share your husband will receive.
It is advised that you come to an agreement between yourselves but if you cannot agree on matters between yourselves and need to take it to court, then the following will be taken into consideration:
- The contributions both of you made before purchasing the property like stamp duty, deposit, etc.
- The contributions made during ownership like mortgage repayments, and financial contributions made like earnings, savings, etc.
- Even non-financial contributions like being a homemaker is considered.
- The person's future earning capacity
- The age and health of you and your wife
- If there are any children and who will take care of the children.
- The length of your relationship.
For full ownership of the property, you will need to buy out your husband’s share of the property
. You’ll need to refinance the loan to a new loan that is solely in the name of the person who will retain ownership of the property.
Give us a call on 1300 889 743
or fill in our free assessment form
to find out if you qualify for a home loan.