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标题: 联名买房知识专家答（Buy your home together FAQ'S） [打印本页]

作者: 妮南 时间: 3-4-2010 19:38
标题: 联名买房知识专家答（Buy your home together FAQ'S）
http://www.podproperty.com.au/faqs.php#7

Questions & Answers About Property Co-Ownership in Australia
They're all here.

If you have a question about property co-ownership, tenancy in common, co-ownership contracts & agreements, PodProperty or the services we offer, scan over the answers to the questions in orange below. If you still can't find your answer, call us on 1300 791 782 or email us at info@podproperty.com.au.

What is a Co-Ownership Agreement / Co-Ownership Contract?
The term "co-ownership agreement" refers to a contract between parties who own property together as "tenants in common". It can cover many different types of relationships, including groups of friends, family members, defacto partners (either heterosexual or same-sex) or any combination of these types of relationships.

The PodProperty Co-Ownership Agreement is sometimes referred to as a "tenants in common agreement", "defacto agreement", "cohabitation agreement", or "prenup agreement". In any case, the contract specifies
the rights and obligations between tenants in common when they own property together.

What is in the PodProperty Co-Ownership Agreement?
The PodProperty Co-ownership Agreement regulates the relationship between the co-owners by including the following provisions:

an indemnity in respect of each co-owner against liability caused by any failure of a co-owner to fulfil his or her obligations under their mortgage;
a way of dividing up any profits or losses realised in respect of the property;
an approval mechanism for allowing people other than the owners to live at the property;
obligations on each co-owner to pay their proportion of the mortgage repayments on time;
rules on splitting the operating expenses of the property;
the establishment of a committee for making decisions in connection with the property;
a regime to protect a co-owner against the default of another co-owner;
ways of selling out, either collectively or individually;
a provision relating to determining fair market value in the event that a co-owner is looking to sell out; and
a dispute resolution clause to quickly resolve disagreements between the parties.

What is in the letter of advice prepared by PodProperty's lawyers?
As part of our service, PodProperty arranges a letter of legal advice explaining the PodProperty Co-Ownership Agreement and how it affects your legal rights and obligations with respect to the co-owned property.

The letter of advice explains the PodProperty Co-Ownership Agreement clause by clause and is drafted in plain English. It also explains the complicated area of law known as "tenancy in common".

Selling a share in a co-owned property. The Co-Ownership Agreement explained
PodProperty’s co-ownership agreement deals with what happens if one of you wants to sell their share in the property. The following options are available to you:

Let someone else move in and pay your share of the mortgage. This way, you keep your share in your home and can move back in at some point in the future.
Your co-owners can buy you out. You can discuss your intentions with your co-owners and ask them if they would like to purchase your share in your home. You can negotiate the price with them directly and once you reach an agreement, you can contact us and we can take care of the rest.
Find someone else who wants to buy your share in the property. Maybe one of your co-owners has a friend who'd like to take your place. If so, discuss it with your co-owners, make an offer and if it's accepted, we'll take care of the rest.
You can all sell the property together.
Discuss your intentions with your co-owners, they might want to move on as well. If you all want to sell out together, we can help you make it happen by getting your property listed and guiding you through the sale
of your property.

Do I need to obtain independent legal advice?
If the parties to the agreement are married, de-facto or in a domestic relationship, each party must have received independent legal advice and have obtained a certificate from their advisor in the appropriate form. We arrange this for you.

How does group finance work?
Presently, Australian lenders do not offer separate loans for people who borrow together to purchase a property.

Please note that co-borrowers will be jointly and severally liable for each other's obligations under the loan.The good news is that many lenders offer extremely flexible joint loans which allow co-borrowers to split the loan into parts.

Is the PodProperty Co-Ownership Agreement suitable for me?
You must be a co-owner of a property or intend to be a co-owner of property. We treat each person who owns or will own an interest in the property as a "Tenant-in-Common" as a co-owner.

Tenancy in common is a situation where a person has a proportionate interest in a property which can be dealt with separately to the interests of the other tenants-in-common in the property.

The shares of the tenants-in-common do not need to be equal. A more detailed explanation of tenancy in common will be provided when you receive independent legal advice from our lawyers.

Am I in a de facto relationship?
The term "de facto relationship" is defined in the Property (Relationships) Act 1984, a copy of which can be reviewed here.

In determining whether two persons are in a defacto relationship, the court will take into account all of the circumstances of the
relationship. The
definition of what constitutes a defacto relationship has been widened to cover most relationships between two adults (over the age of 18) who:

live together as a couple; and

are not married; and

are not siblings or a parent or child of each other.

Same-sex couples are now covered by this law

What is the First Home Owners Grant?
The First Home Owners Grant is a scheme established by the government to help
first home buyers to purchase their first home by offering a $7000 grant. To be eligible for the grant, applicants must meet the following criteria:

At least one applicant must be a permanent resident or citizen of Australia;

Every applicant must not already own, or have previously owned a property. If you are married or in a de facto relation, this includes property held in either your name or your partner’s or with another person.

It must be the first time that each applicant and their
spouse/de facto has received a grant.

All applicants must be at least 18 years of age.

Can all co-owners receive the First Home Owners Grant?
To receive the First Home Owners Grant (FHOG) all co-owners must meet the eligibility criteria, otherwise the grant is forgone. However, co-owners will only receive one grant of $7000 for the property they are purchasing. They cannot obtain a separate grant of $7000 each.

What is the Home Saver Account?
The Home Saver Account is a government initiative which assists potential first home buyers to save up for a deposit. The Saver account can be set up with a minimum upfront contribution of $1000. The scheme allows you to pay a lower tax rate on up to 10% of your income, while the government will provide a 15%
contribution on the after-tax contribution of up to $5000.

The funds in the account will be invested to gain compound earnings but will be taxed at 15%. However, the full amount of your account will be released tax free if it is used to purchase or build a first home to live in.

In an attempt to combat the escalating problem of housing affordability the Government has confirmed that people who buy property together under a co-ownership framework will be able to aggregate their loan accounts to substantially increase their windfall to purchase a home jointly.

Is it better to be tenants in common and joint tenants?
Tenancy in common is a principle of property law in Australia that allows two or more people to own property together. Unlike joint tenancy, each party can bequeath his or her interest through their will to beneficiaries of their choosing instead of to the other co-owners.

Tenants in common can own land in equal or unequal shares. It is a more flexible form of property ownership and a co-owner's rights and obligations can be set out in a co-ownership agreement to ensure the parties are clear about the parameters of the co-purchase.

Joint tenants together own the entire interest in the property, but as individuals they own nothing. If one party dies, their share is transmitted automatically to the remaining owner.

Joint tenants have rights of survivorship: if one tenant dies then the surviving joint tenant takes the whole property.

Further explanation is provided in our Free Co-Ownership Guide.

What is the difference between tenants in common and joint tenancy？
Joint tenancy is the holding of property by two or more persons in equal shares. If one owner dies, his or her share will automatically go to the other partner(s), irrespective of any provisions made in a will. This kind of ownership structure is used most commonly by married couples.

Tenants in common is a type of co-ownership where two or more people own separate interests in a parcel of land (which may be equal or unequal). The laws of survivorship do not apply to tenancy in common. When one party dies, their share of the property can be left to anyone they like, as provided for in their will. PodProperty makes use of this type of co-ownership arrangement.

Mortgage Default: What happens if I am a co-borrower and one of us defaults?
Remember that if you are co-borrowers, you are jointly and severally liable for each other’s debts.

Under standard mortgage documents, borrowers are typically in default 14 days after missing a single payment, even if only one co-borrower is in default. In addition, a bank may impose a penalty interest of at least 5% on top of the existing rate from that point. If it doesn’t look like you are in a position to pay then the bank may serve an order for possession and sale of your property.

Under the PodProperty Co-Ownership Agreement, each co-owner has a power of attorney in their favour so that a co-owner can take over a defaulting party’s share in order to either refinance or sell out. All costs associated with such default come out of the defaulting party’s share.

What happens if I don't have a co-ownership agreement? Can I force my co-owner to sell?
Where the co-ownership is not working out, the common sense approach would be to sell the property and divide the proceeds of sale.

This is normally done by agreement, but if not possible, one of the parties may bring an action for partition and in that action seek an order for ‘sale in lieu of partition.

This is common in the context of bankruptcy when the other co-owners will not cooperate with the Trustee in Bankruptcy in a sale of the property in dividing the proceeds.

Equity will consider things such as contribution, improvements etc.

Where do we find a good builder to renovate our co-owned property?
Many co-owners plan to renovate their co-owned property and ask PodProperty for a recommendation.

Builder's charge anywhere between $20 and $95 per hour to renovate you home. The average quoted price for a builder on ServiceSeeking.com.au is $51 per hour. You can get obligation free quotes on Renovations and +3,000 local builders will quote on your job.

Cheap Furniture Removals needed?
Well you've bought your house together, and researching the best option for moving gear from your rental to your new co-owned property. Where do you turn? You want to speak to your friends about their experiences, or visit a site that has consumer feedback so you can ensure that the removalist you ultimately engage is a reputable one. Here is a good place to start your search for Cheap Furniture Removals.

Accounting issues resolved: How do you account for income from rent if you are a co-owner?
If you derived rent jointly (or in common) with another person from a jointly held property where you were not a member of a partnership carrying on a business of renting out properties, include your share of rent and expenses on the tax return.
If the title deed shows that you were a part owner of the property, you would include only your share of the rent and expenses on your tax return.

For example, if you owned half of the property, you should show half of the rent and claim half of the deductible expenses for the property.

[ 本帖最后由 Rondy 于 3-4-2010 19:18 编辑 ]

作者: jhomeloans 时间: 3-4-2010 23:52

原帖由 Rondy 于 3-4-2010 20:38 发表

 登录/注册后可看大图

http://www.podproperty.com.au/faqs.php#7

How does group finance work?www.FreeOZ.org. H$ r0 U$ j7 Q5 a; G: J
Presently, Australian lenders do not offer separate loans for people who borrow together to purchase a property.
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很好的知识。以上这段不太正确，是可以分开贷款的（co-purchasers can get separate loans from lender）。

作者: MillerYang 时间: 4-4-2010 00:21
学习一下。。。

作者: 妮南 时间: 4-4-2010 18:40
标题: 回复 #2 jhomeloans 的帖子
How does group finance work?
Presently, Australian lenders do not offer separate loans for people who borrow together to purchase a property.

Please note that co-borrowers will be jointly and severally liable for each other's obligations under the loan.The good news is that many lenders offer extremely flexible joint loans which allow co-borrowers to split the loan into parts.

我的理解是，借方银行不会提供任何共同购房者分开贷款。比如，两个人为了一套房子各贷各的款。银行借给这笔钱给你们两个人，两个人都有责任共同还款。但是一个好消息是，银行可以允许你们两个人把这笔贷款分开偿还。

作者: jhomeloans 时间: 6-4-2010 21:18
标题: 回复 #4 Rondy 的帖子
这篇文章可能多年前写的，要不就是贷款的知识了解的不全。co-borrowers 不需要 jointly and severally liable for each other's obligations。可以分开来贷款，唯一的联系是抵押同一套房子。一方还不起，另一方不用负责，可是银行如果拍卖房子来抵一方的债，另一方还是拥有房子的一半，但是如果这时候不买下房子的另一半，房子就被迫卖掉了。

作者: houge 时间: 6-4-2010 21:33
长知识啊。
对于有合资买房意向的童鞋有帮助。。。

作者: 妮南 时间: 7-4-2010 09:35

原帖由 jhomeloans 于 6-4-2010 20:48 发表

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这篇文章可能多年前写的，要不就是贷款的知识了解的不全。co-borrowers 不需要 jointly and severally liable for each other's obligations。可以分开来贷款，唯一的联系是抵押同一套房子。一方还不起，另一方不用 ...

很多法律都是老的，还是有效的。

不必顾虑这个问题，多数联名买房的都是夫妇。朋友之间联名买房就要小心点。

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