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Investing with Family?

Investing with family - the importance of writing it down There have been two recent cases in the Supreme Court of New South Wales that reinforce the importance of documenting agreements between family members to avoid disputes later on. Nguyen v Nguyen The facts This case involved an agreement between a brother and sister that was never written down. The siblings agreed to buy a residential property in the brother’s sole name, but they were both borrowers under the mortgage. The sister negotiated the sale price with the seller and paid the deposit to the estate agent, stamp duty and other fees in the transaction. The sister lived on the property with her family for several years and

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