When a marriage or de facto relationship has broken down, the Family Law Act provides the structure to identify and divide assets in a fair and equitable way for both parties.
This is a complicated area of the law, requiring the identification of the assets of the relationship and the value as provided by each person. This includes determining whether they are financial or non-financial contributions, the needs of each person, and negotiating whether the proposed distribution is fair and equitable.
The Property Settlement can be done without commencing any application with the court; however the court will seal the final consent orders. In the case that a property settlement is commenced with the court, the following time limits apply for settlement: within 12 months of the date of divorce or for de facto couples or 2 years after separation.
Please contact us for more information about ensuring that you get a fair share of the assets of the relationship.