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Can I sell my property after separation?

The first question to ask is how you hold the property? Is it just solely in your name or do you jointly own the property? There are different answers for both of these scenarios.

If I solely own property, can I sell my property after separation?

The answer is yes, you can attempt to sell your property after separation. If the property was an asset of the relationship that has just ended and your former partner contributed to the property either financially or non-financially, then the likelihood is that if you list the property for sale, your former partner will engage in legal representation and either write directly to you or to your Solicitor regarding the terms of sale and where the proceeds of sale should be held or alternatively caveat the property to prevent a sale until there is agreement around the terms of sale and what shall occur to the proceeds. The caveat will be based upon your former partner claiming an equitable interest in the property.

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It is normally the case that an agreement is reached for the sale to occur based on the sale price and where the balance of funds from the sale will be held, usually in a Solicitor’s trust account, until a resolution of your Family Law matter occurs.

If by chance you were able to list and sell the property and retain the proceeds prior to receiving a letter about the sale from the representative of the former partner, the sale and the proceeds of sale would still form part of any property settlement and would be notionally added back into the property pool (all assets and liabilities and superannuation of the relationship) to obtain a just and equitable outcome provided the property was a relationship asset and there were contributions from your former partner to the property.

Can I sell my property after separation if it is in both of our names?

Yes, you can sell your property after separation if it is in both of your names but only with the agreement of your former spouse and or an order of the Court to allow a sale to occur. If you want to sell a property, you would normally write to your former spouse or their Solicitor, setting out the terms of sale being the price you seek to list the property at, the agent you seek to use, and the price you are willing to accept to sell. You would outline where the settlement proceeds are to be held to resolve the family law matter being settled. From there you will receive a reply, negotiate terms acceptable to both parties and once that is all agreed, you can proceed with the sale.

Going through a separation or divorce and resolving these sorts of issues can be one of the toughest things a person will face during their lifetime. There is a lot to think about; where will you live, who gets what and how do we make this all happen. Talk to Gold Coast Best Family Lawyer to resolve your legal issues.

Related Articles: Why You Need A Good Family Lawyer | Gold Coast, What Are My Rights If My Partner Leaves With My Kids?

We at MCG Legal can guide you through all of these issues to obtain the best possible outcome.

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