Property settlement involves the parties agreeing or the court making orders
which divide the parties’ assets between them. Whilst parties have to wait 12 months from the time that they separate until
they can apply for their divorce, they can resolve property matters between them
or make an application to the court in relation to property settlement
immediately following their separation. Indeed, they can even apply before
separation. However, a divorce does have an effect on whether you can make a property
settlement application to the Family Court if you have not already resolved
those matters. Once a party has applied for a divorce and a decree absolute
dissolving the marriage has been made, then the parties only have 12 months from
that time to make an application for property settlement and/or spousal
maintenance. While it may be possible in very limited circumstances to obtain
the court’s permission to file an application for property settlement and/or
spousal maintenance after the time period has expired, this is extremely
difficult and expensive and it is far better simply to file your application
within the necessary time period. The Family Law Act applies to the property of people who have been married.
If you have never been married to the other party, then the law in relation to
your property is the law of the State in which you reside or where the property
is situated. In that case, you should refer to the relevant de facto information
and kit. The Family Court has broad powers to make orders changing the interests
parties have in property. To apply to the Family Court to resolve any matters in relation to property,
it is necessary that either party to the marriage at the time that the documents
are filed is an Australian citizen, is ordinarily resident in Australia, or is
present in Australia. "Property" means the property to which a party to a marriage is
entitled whether in "possession" (which means entitled to it now) or
"reversion" (which means entitled to it at some later time). There have on occasions been disputes as to what is included in the
definition of property and if you have any queries about that, then you may want
to obtain legal advice. The court is required to only make an order changing property interests if it
is satisfied that in all the circumstances it is fair to do so. Section 79(4) of
the Family Law Act 1975 details the matters to be taken into account by the
court in considering whether any orders should be made altering property
interests. Those matters are: Find-a-Lawyer experienced in Family Law. Read about Property Settlement Kits. DISCLAIMER This Information Outline is available courtesy of AussieLegal’s
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Read on about Property Settlement.