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News & Events

Are you considering property co-ownership?

Senior Associate Stefan Manche speaks to The Age about the significant financial and emotional risks involved,

Read the article here.

The article examines the growing trend of relatives and/or friends buying property together to help "crack" into the increasingly expensive property market. Co-ownership has started to appeal to a broader range of people as property prices continue to soar. 

Stefan Manche urged people considering co-purchasing with their relatives or friends to approach the decision cautiously; "what can happen, and we can all be guilty of this, is getting really excited about a property and rushing into the purchase without properly considering things". 

In the article Stefan goes on to explain that in disagreements  the co-owners can end up in court: It will end up in VCAT [Victorian Civil and Administrative Tribunal] and, in most cases, it has to be sold and each party takes their fund”.

If you need advice on co-ownership agreements contact Stefan Manche.