I act for the husband in this family matter- the parties have separated and intend to divorce. The matrimonial property is split 90/10 tenants in common and my client owns the 10% share, however he has advised that he has contributed more than 10% to the property. The couple have been married for 8 years so it is a long term marriage. The wife wants to buy my clients share. To determine a reasonable and fair offer, would the process be the same as if the parties owned the property jointly- so we would look at the financial and non-financial contributions or is it clear cut and he is only entitled to 10% as per the tenancy on title?
Thank you for the question.
Yes.
Regardless of the manner of ownership of the property, the court takes the same four step approach in establishing what is just and equitable.
For a recent case where ownership was held as tenants in common and the court found a division according to the manner of holding was not appropriate, see Hsiao v Fazarri [2020] HCA 35.
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