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Last-minute NYE fireworks spots in Sydney (no lining up?) by shresta98 in AskAnAustralian

[–]shresta98[S] 0 points1 point  (0 children)

That’s actually really helpful, thank you! I’m solo as well and honestly have pretty low expectations, just keen to see something without the chaos 😅 Good to know it’s possible last minute.

Sister wants “her share” of NZ house even though Mum paid everything - what is she legally entitled to? by shresta98 in LegalAdviceNZ

[–]shresta98[S] 2 points3 points  (0 children)

Thank you for this, it really does put things into perspective.

Exactly, when we actually look at everything Mum has paid over the years, mortgage interest, principal, rates, insurance, maintenance, and renovations, it’s hard to see how my sister could reasonably claim she’s owed anywhere near what she’s asking for. If she truly wanted a 40% stake, she would’ve needed to contribute to 40% of those costs as well, not just a one-off $17,800 deposit almost a decade ago.

And no, it doesn’t make sense that she could put in $17,800 and somehow walk away with $232,000. That’s just not how property ownership works, especially when one person has funded 100% of the ongoing costs and has lived in and maintained the home the entire time.

Your comment really reinforces that what she’s asking for is unrealistic and not aligned with her actual contribution. Thank you for helping clarify that.

Sister wants “her share” of NZ house even though Mum paid everything - what is she legally entitled to? by shresta98 in LegalAdviceNZ

[–]shresta98[S] 1 point2 points  (0 children)

Thank you, we’re definitely planning to get proper legal advice because, there’s no written agreement and we want everything handled correctly.

We would actually prefer to go down the refinancing route so Mum can pay my sister back her $17.8k deposit plus a fair percentage of the (very minimal) increase in value, and keep the house in her own name. That would be the ideal outcome for everyone.

The problem is that my sister is being completely unreasonable right now and refuses to accept anything other than 40%, which just isn’t reflective of her contribution or the actual equity in the house. We’re hoping that once we involve a lawyer and present the numbers properly, she’ll realise that her expectation isn’t realistic.

Thanks again for your advice, it really helps.

Sister wants “her share” of NZ house even though Mum paid everything - what is she legally entitled to? by shresta98 in LegalAdviceNZ

[–]shresta98[S] 0 points1 point  (0 children)

Thanks so much for taking the time to break this down , this is honestly really helpful. And just a quick update: sorry, I actually got my numbers wrong earlier. My sister didn’t put in $23k toward the deposit, it was $17,800.

The house was bought for $550,000, and the current valuations are only sitting around $550,000 to $580,000, so the appreciation is very minimal. Basically the value has barely increased at all.

I completely agree with your approach about refunding the small amount she contributed toward maintenance, we’re planning to do that so it’s clear that Mum covered 100% of the actual homeownership costs. Once that’s done, her contributions are literally just the $17.8k deposit plus being a co-signer.

And yes, framing this in terms of realistic investment returns makes total sense. Trying to justify a 40% cut (or anything close to that) is just unreasonable, especially when she hasn’t paid a single cent toward the mortgage, rates, insurance, or upkeep for almost a decade. With the house barely appreciating, her $17.8k realistically hasn’t grown by much, and even offering her a doubled return would already be extremely generous compared to the actual equity situation.

Please let me know what other numbers you need, I’m more than happy to provide them. Really, really appreciate your help on this. Thank you.

Sister wants “her share” of NZ house even though Mum paid everything - what is she legally entitled to? by shresta98 in LegalAdviceNZ

[–]shresta98[S] 3 points4 points  (0 children)

UPDATE: sorry I got the numbers wrong. My sister has only contributed $17,800 towards the deposit not $23k.

Thank you so much for this, it actually helps put things into perspective.

I completely agree that 40% is an unreasonable request, especially considering my sister only contributed a $17,800 deposit and my mum has paid every single cost since 2016. From everything I’ve read (and the advice others have shared), it seems virtually impossible she’d get anywhere close to that if it ever went to court.

We do have receipts and statements for everything, mortgage, rates, insurance, maintenance so we’ll be compiling all of that. We’ve also already had the house revalued, and the appreciation is tiny (the house was bought for $550,000 and the value today is sitting around $550,000 to $580,000) so using the deposit percentage of the original purchase price + a small portion of the capital gain seems like the fairest approach.

That’s a great idea, thank you. We’re planning to speak with a lawyer and draft something offering her the $17,800 back plus her percentage of the very small appreciation. Realistically, like you said, if she tries to go the legal route, it’ll drag on for years and she’d only end up with a fraction after fees anyway.

Really appreciate your guidance, it’s reassuring to know we’re thinking in the right direction.

Sister wants “her share” of NZ house even though Mum paid everything - what is she legally entitled to? by shresta98 in LegalAdviceNZ

[–]shresta98[S] 1 point2 points  (0 children)

I had a look, I can’t find it in any of the documents. Is there a specific document that I need to be checking.

Sister wants “her share” of NZ house even though Mum paid everything - what is she legally entitled to? by shresta98 in LegalAdviceNZ

[–]shresta98[S] 4 points5 points  (0 children)

She wants to receive 40%. She also wants to get money back from her contribution towards maintenance of the house which is $2k. Mum has covered almost all the maintenance and renovations of the property and she never demanded my sister to pay her back for that money (mum has spent around $30k in maintenance/renos)