Buying PPoR before getting married pro and cons ?

[JohnHenry]

If you are thinking what if it doesn't work out, you are already doubting yourself in my mind.

I bought a property 2 years ago and got married 6 months ago. To have her name on the title it is beyond a joke and very costly. At the end of the day once you marry it becomes ours not yours. So only if you are trying to claim first home buyers twice would you do it. However i can tell you from experience it does cause pain on her side and alot of trust as my wife and most likely yours will have an issue paying for something that isnt in her name. We are working through it and she is now basically okay with it now.

I just cant wait for her to get a house under her name (reverse situation).

Yes, I understand now and based on the Catholic marriage, the Prenuptual agreement is not valid, hence I will not pursue it anymore.

On a separate note, when we both get married together, I believe that my existing properties will still be under my name (from the local government point of view) and I don't need to inform ATO or my bank for that reason ?

 

[JohnHenry]

If you are thinking what if it doesn't work out, you are already doubting yourself in my mind.

I bought a property 2 years ago and got married 6 months ago. To have her name on the title it is beyond a joke and very costly. At the end of the day once you marry it becomes ours not yours. So only if you are trying to claim first home buyers twice would you do it. However i can tell you from experience it does cause pain on her side and alot of trust as my wife and most likely yours will have an issue paying for something that isnt in her name. We are working through it and she is now basically okay with it now.

I just cant wait for her to get a house under her name (reverse situation).

What happened if after we both get married, my partner buy new property ? Does she get taxed differently and still be able to get the FHOG ?

 

[Terry_w]

What happened if after we both get married, my partner buy new property ? Does she get taxed differently and still be able to get the FHOG ?

No and No.

 

[Terry_w]

Yes, I understand now and based on the Catholic marriage, the Prenuptual agreement is not valid, hence I will not pursue it anymore.

On a separate note, when we both get married together, I believe that my existing properties will still be under my name (from the local government point of view) and I don't need to inform ATO or my bank for that reason ?

Catholics still have to abide by the Australian laws.

Marriage doesn't change legal ownership either.

 

[propertyVIC]

1. Buy in separate names for land tax advantage and/or FHOG only. IF there's any future split up can't hurt, but probably won't help.
2. Don't worry so much about whose name it is as far as future split ups goes - after a few years (especially if children) it will make no difference.
3. If you're not even sure you can stay married for a few years, reconsider/delay marriage.

 

[Aaron_C]

While it pays to be prudent if you get pre-occupied with these things you will lead quite a miserable existence.

 

[Corey Batt]

More time focusing on choosing right partner for life, less time on legal structures to avoid getting taken to the cleaners.