Can you afford to keep the house?
Enter the property value, the mortgage and your share of the equity. See the buyout payment your ex-partner would receive, and the size of the loan you would need to make it happen.
A recent appraisal or bank valuation is best. An honest estimate works for a first pass.
Leave this blank if the home is paid off.
The split comes from your overall property settlement, not automatically 50/50. Use 50% as a starting point if you are not sure yet.
Loan discharge and application fees, valuation, and legal work on the transfer.
Buying out your ex-partner's share of the house in Australia
Keeping the family home after separation usually means buying out your former partner's share of the equity. The equity is the current market value minus the remaining mortgage, and the share each of you holds comes from your overall property settlement under the Family Law Act 1975 (Cth) (section 79 for married couples, section 90SM for de facto couples). The starting point is never an automatic 50/50. Contributions, future needs and the rest of the asset pool all shape the percentage, and superannuation counts as property too, split by a splitting order or a superannuation agreement.
Most buyouts are funded by refinancing. The new loan pays out the existing mortgage and releases your former partner's share in cash. The lender reassesses the loan against your income alone, and most prefer the new loan to stay at or under 80% of the property value. Above that, lenders mortgage insurance usually applies. Getting a valuation and a borrowing-capacity check early saves a lot of negotiation pain later.
There is good news on duty. In most states and territories, transfers between separating spouses or de facto partners are exempt from transfer (stamp) duty when they are made under court orders (including consent orders) or a binding financial agreement. The exemptions are state specific, so confirm what paperwork your state revenue office needs before settlement.
The bank is a separate hurdle. Lenders are not bound by family court orders, so both names stay on the mortgage and each of you remains liable for the whole debt until the loan is refinanced. And keep the time limits in mind for formalising a settlement: two years from separation for de facto couples and 12 months from the divorce order for married couples.
This is general information, not legal advice. Figures are indicative only and based on the numbers you enter. Property valuations, lending criteria and duty exemptions vary, so confirm your position with your lender and your state revenue office. Every situation is different. For advice on your circumstances, speak with a qualified Australian family lawyer.
If you are going through a separation, Separately helps you understand your financial position clearly and privately, at your own pace.
Learn how it worksData sources & references
- Property and finance after separation, including how the court divides property: Federal Circuit and Family Court of Australia.
- Transfer duty exemptions on relationship breakdown (NSW; other states and territories have their own equivalents): Revenue NSW.
- Home loan repayments and what a new loan would cost you: Moneysmart mortgage calculator.
These figures and legal points are general information for context only. They are not advice and not a prediction about any individual situation.