Matrimonial Property Settlement

Matrimonial Property Settlement

The Family Law Act 1975 Commonwealth provides for property settlement for people who are married, including same-sex marriages.

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How Can You Complete a Property Settlement?

There are four primary ways you can complete a matrimonial property settlement:

1. An informal separation, which may lack many legal protections available under the Australian law.

2. By way of a Binding Financial Agreement.

3. By way of a joint Application for Consent Orders through the Family Court of Australia.

4. By bringing proceedings in a family law court and have a judge decide your property settlement.

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To apply for a court application for matrimonial property settlement you can:

1. Apply at any time within 12 months of divorce, after having attempted to negotiate a settlement or if there are special circumstances.

2. Make an out of time application, when applying outside of 12 months of divorce if you or a child would be in hardship; or

3. Seek the other party's consent for a court application to be brought outside of 12 months after the divorce.

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An alternative to a court application is a binding financial agreement or financial agreement.  There is generally no time limit for financial agreements, however, both parties must consent to the property settlement.

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