Co-Ownership Agreements v. Binding Financial Agreements: Which one is right for me?

Co-Ownership Agreements v. Binding Financial Agreements: Which one is right for me?


A ‘Co-Ownership Agreement’ is a great idea if you are considering purchasing a property with one or more other people. As discussed here, it will reduce the chances of an expensive ‘separation’.

However, if you are purchasing a property with your ‘spouse’ or someone you are in a ‘de facto relationship’ with under the Family Law Act, a Co-Ownership Agreement will not be legally binding if your relationship breaks-down and you have a property settlement that is governed by the Family Law Act.

If you are purchasing a property with a spouse or de facto partner – and you wish to agree up-front on who will get what if your relationship breaks-down – then you should consider entering into a formal Binding Financial Agreement, or BFA, under the Family Law Act.

For more information about BFAs, read this.

For more information about Co-Ownership Agreements, read this.

If you would like some advice about your own particular circumstances, call us on 1300 654 590 or email us.

P.S. We also think this is a great article on buying property with other people: https://supernuclear.substack.com/p/co-buying-property-with-friends

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The information contained in this post is current at the date of editing – 27 February 2024.


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