Section 20B — Property (Relationships) Act 1976: Protected interest in family home

20B Protected interest in family home (1) Each spouse or partner has a protected interest in the family home, which includes,— (a) where section 11A applies, the proceeds of sale of the family home: (b) where section 11B applies, the property shared under that section: (c) where section 12 applies, the money shared under that section. (2) The protected interest of a spouse or partner is not liable for the unsecured debts of the other spouse or partner, other than an unsecured debt incurred— (a) by the spouses or partners jointly; or (b) by the spouse or partner subsequently declared bankrupt, for the purpose of acquiring, improving, or repairing the family home. (3) The value of the protected interest of a spouse or partner is as follows: (a) where section 11 applies, the protected interest is to the extent of the lesser of— (i) the specified sum; or (ii) one half of the equity of the spouses or partners in the family home: (b) where section 11A applies, the protected interest is to the extent of the lesser of— (i) the specified sum; or (ii) one half of the proceeds of the sale of the family home: (c) where section 11B or section 12 applies, the protected interest is to the extent of the lesser of— (i) the specified sum; or (ii) one half of the property or money shared under the applicable section. (4) In this section, specified sum means the amount for the time being prescribed under section 53A for the purposes of this section. Sections 20A to 20F were inserted, as from 1 February 2002, by section 20 Property (Relationships) Amendment Act 2001 (2001 No 5). See Part 9 of this Act as to the transitional and saving provisions. Section 20B was amended, as from 26 April 2005, by section 3(2) Property (Relationships) Amendment Act 2005 (2005 No 19) by substituting the word “ partner ” for the words “ de facto partner ” wherever they appear. Subsections (2)(a) and (3)(a)(ii) were amended, as from 26 April 2005, by section 3(1) Property (Relationships) Amendment Act 2005 (2005 No 19) by substituting the word “ partners ” for the words “ de facto partners ” .