Home ownership

Hi, when a couple buy a property in their own names, can the percentage of ownership be allocated. for example 90/10%.

 

Yes. Look up Tenants In Common vs Joint Tenants.

One is fixed at 50/50 and the other allows any split you want.

Under one if you die the surviving partner gets the other share. Under the other you can put your share in your Will.

 

Yes - known as: tenants in common in unequal shares.

But read my legal tip on why not to do this.

 

Thanks Terry,
If the above scenario was a NSW IP, would both owners be entitled to a Land tax threshold.

 

no

 

Wouldn't each owner be entitled to a threshold, and with the scenario above a percentage distribution of land tax.

 

no