Matrimonial Property Settlement

Matrimonial Property Settlement Can be Completed by Agreement or Through Court if Necessary

Matrimonial Property Settlement

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

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.

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.

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.

Famiy Law Property Settlement