QLD - Need a lawyer for a complicated purchase as part of divorce

Discussion in 'Legal Issues' started by Brad-corp, 28th Sep, 2020.

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  1. Brad-corp

    Brad-corp Member

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    Looking for a recommendation for a lawyer to help with a property purchase in Brisbane.

    Backstory:
    So, as simply as I can - I'm going through a divorce and am attempting to retain our PPOR and my ex has already put a deposit down on a property all in her own name.

    I'm a sole trader and have had a bit of a decline in work since covid, so the bank is not interested in loaning me money. My father has agreed to by the property with me and the plan is to refinance in a few years, to put the property solely in my name when the banks are happy to do that.

    I'm looking for a lawyer to help with this purchase and to represent my father's and my side of the deal and to help us purchase this property in the right way to make it as easy and cheap as possible to get my dad's name off the title down the track.

    Any recommendations of lawyers in Brisbane that would be particularly geared towards this?
     
  2. thatbum

    thatbum Well-Known Member

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    Sounds like a bit of pain family law AND general structuring wise. What's your family lawyer said about doing this plan?
     
  3. Brad-corp

    Brad-corp Member

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    Nah, it's straight up the property purchase side.
    The divorce side is under control.
     
  4. thatbum

    thatbum Well-Known Member

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    According to a family lawyer though? Because I can see problems on that side.
     
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Watch out for the stamp duty and CGT and social security act issues with your dad.
    Get some advice on bare trusts.
     
  6. Brad-corp

    Brad-corp Member

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    Yeah thanks - this is the kind of thing I'm wanting to talk to the lawyer about. I don't just want them to do the conveyancing - also need to make sure we're buying in the right way to minimise costs both on the way in and on dad's way out too.

    I know we'll need to pay some stamp duties along the way - basic thing will be that my dad is not out of pocket at all. So all these costs, although on paper he might be responsible for some of them, he won't actually be out of pocket for any of them.
     
  7. willair

    willair Well-Known Member Premium Member

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    My family has used this company several times over the past few years and been very happy with the costs and the way they work for you and the end result ..imho.. good luck..
    Certus Legal | Certainty, Service And Value
     
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  8. Fernfurn

    Fernfurn Well-Known Member

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    Could you buy the property with only your name on the title (save on transfer stamp duty later on) and your dad get a mortgage against his house and loan you the money? With a separate legal agreement between you two that you are responsible for paying back the loan to him.
     
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  9. Brad-corp

    Brad-corp Member

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    Awesome, thank you. I'll check them out.

    No, that wouldn't be an option in this case. I like your outside the box thinking though.
     

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