Today we are myth-busting: If my partner is paying rent while living at my property, am I protected?
When a new partner moves into your property, there is a common misconception that if your partner signs a document to say they are contributing to the rent or create a DIY agreement, this will protect you and your property in the long term.
This statement is false and will not protect you in any family law proceedings.
Now, let’s fast-forward five years as an example. Family Law in Australia provides that all assets of the relationship are a part of the property pool, no matter who has contributed to the asset or how the asset became part of the pool. So it doesn’t matter what name the property is in or how parties have been paying for it. What it means is that you are now subject to what the Family Law Act prescribes.
So, how do you protect your property when your partner moves in with you?
A BFA is a document that allows you to protect your property interests in the event of separation. BFA’s can be drafted before, during, and after the relationship. A BFA is the best way to ensure that if you have a partner moving into your house, your property is protected if you separate.
If you would like to arrange an obligation-free meeting with one of our Lawyers to discuss how we can get you a BFA – call us on 5574 0971, or click here to arrange a time that best suits you, We offer Zoom, or in-person consultations – the choice is yours!