Do I have to be divorced to do a property settlement?
As soon as you have separated you can make arrangements to do a property settlement and split your property and debts between you and your ex partner, you do not have to wait until you are divorced.
Do we have to go to Court?
No. If you have already agreed on a property settlement, that is, how things should be divided between you, we can draw up the agreement in a document called a consent order which will legally formalise the agreement regarding division of your property and debts, and guide you as to the legal processes necessary to implement the agreement.
What if we can’t agree?
There is an established process in cases where there is disagreement over how property should be split.
If an agreement cannot be reached, an application to the court can be made seeking an alteration of the property interests of the parties.
This application must be made within 12 months of your divorce becoming final.
How does the court decide?
If the court has jurisdiction to make an order altering the property interests of the parties, it does so after considering the following 5 step process:
- Is it just and equitable to make an order given the parties’ circumstances?
- What is the nature and value of the property interests of the parties, including superannuation?
- What have been, and continue to be the financial, non-financial and homemaker contributions to the maintenance and upkeep of that property?
- What are the parties’ future needs, as defined by factors set out in section 75(2) of the Family Law Act?
- How can an order be made which is just and equitable?
Want more information?
Read our family law news articles:
- Why you should formalise your property settlement;
- Is Domestic violence relevant in a property settlement?
- 10 tips to protect your assets
- Chancellor & Mccoy – no property order just & equitable after 27 year relationship
- Am I in a de facto relationship?
- Property acquired after separation – how is it treated?
- Consequences of Defaulting on property orders
You may also find the following family court information pages & fact sheets helpful:
- Property and finances after separation;
- Reaching an Agreement without going to court;
- If you agree about property & finance;
- If you don’t agree about property & finance;
- Complying with Financial Orders.
Click the links on our page to find out more information about superannuation splitting, child support, spousal maintenance and your obligations in relation to financial disclosure in a property settlement matter.
We can help
Dealing with the complexities of property settlement is stressful but the consequences of not doing it properly can impact on the rest of your life. We are experienced negotiators.
We empower you with advice, educate you about your options and provide you with practical and strategic advice to enable you to achieve the best, quickest and most cost effective resolution to your legal problem.