Episode 20: Chris Walsh - Buying in a Partnership (Part 1)

Chris Walsh, from Walsh Conveyancing in Somerville comes in to talk to us about buying in a partnership.

Buying in a partnership comes in all forms - siblings, Family Trust, business partners, divorced couples, parents and child, it's not just your loving other. And when an outside comes in, like a new spouse, or even if one of the partners die, complications can come in which can add new dimensions to the original contract. Today we talk about what we need to look for when buying in a partnership.

Chris Walsh is a well respected member of the Conveyancing fraternity. Her career spans more than 28 years in the legal profession, including 18 years in her own business. She's the Director of Walsh Conveyancing, Somerville, and prides herself on providing all her clients with a supportive, informed 'warm and fuzzy' conveyancing service, when people buy, sell and transfer real estate in the State of Victoria.

1. What's the legal terms of the type of owners you can be when buying a property in a partnership?

2. What are the pros and cons of : a) tenants in common, b) joint tenants

3. Does it matter is you're married, business partners, de facto, siblings, parent/child? Are the rules still the same?

4. What are the legal differences between buying as a person versus buying in a company or trust?

5. If the partnership falls apart, or you choose to sell the property, how do funds get divided in each situation?

Tune in tomorrow for Chris' more in-depth account of buying in a partnership and to listen out for Chris' offer to Real Estate Right listeners.

www.walshconveyancing.com.au