I jointly own a residential house in Australia with one other person. Neither of us live in the house.
We have reached an agreement where the other party would like a certain sum to be paid out (already agreed upon).
Is it possible to have a document drawn up that gives me power of attorney or similar over the house in exchange for paying the other party a sum?
I would eventually like to refinance the house solely in my name.
I have always and will continue to pay the mortgage.
You must understand Australian law to bid on this.
Thanks in advance.