Diane sold her home. She then contributed $250,000 towards the purchase of a large property shared with her daughter Nicole and son-in-law David. Diane’s contribution was one quarter of the purchase price.
Diane had a wing of the house for herself which included a bedroom, lounge and bathroom, but she shared the kitchen with the rest of the family. Diane’s financial interest was not listed on the property title because Nicole had said that she would not be able to get a mortgage on the property if Diane was on title.
Diane enjoyed being close to her grandchildren and daughter. However, after three years Nicole’s relationship with David broke down and the property became the subject of a family law property settlement. David was claiming half the value of the property and did not recognise any interest Diana had in the property.
Diane sought assistance from Seniors Rights Victoria. We arranged for Diane to be joined to the Family Court proceedings so that her equitable interest in the property was recognised and, when the property was ultimately sold, she received one quarter of the sale proceeds. This enabled her to buy a unit in a retirement village close to where her daughter then settled.