Background
A couple was married for 2 years and had 1 child.
At the beginning of their relationship, they did not possess any assets. Throughout the relationship, they collectively invested all their income and savings into an $800,000 property registered under the husband's parents' name. The husband's parents also contributed their income and savings towards the property.
Subsequently, a developer purchased the property for $2 million, with the settlement scheduled for a few years later. Shortly after the sale, the couple separated, and the husband and his parents evicted the wife from the property.
Dispute and result
Wife wants 25% of the property being 1/4 of the property. She commenced proceedings
against the Husband and his parents. She says all 4 persons intended to purchase the property in equal shares.
Husband and his parents claimed the money they received from the husband and wife was rent.
Parties settled for an amount being more than 1/4 of the value of the property but less
than 1/4 of the developer offered. The wife then purchased another property with her share of the assets. 2 years later the developer went bankrupt and couldn't complete the purchase.
The above case shouldn't be blindly applied, as the court has arrived at opposite outcomes in similar cases.
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