Reaching a Property Settlement

The Property Law provisions of the Property (Relationships) Act 1984 and the Family Law Act 1975 states that property agreements can only be recognised if both parties have had independent legal advice.

Should a serious dispute occur, we can conduct proceedings in the Family Court of Australia.

What does the Family Court of Australia Consider in Property Settlements?

If you haven't got a financial agreement, spousal maintenance orders can be made by the Family Court of Australia, considering who has care of the children (if any), income, property, employment capacity, and child support payments. When making a property settlement, the court will examine similar factors – it will look carefully at all property held by the parties – remember there’s no distinction between a "matrimonial" asset and a "business" one. Broadly speaking, the Property Law Act allows a court to look at both the retrospective contributions and future needs of the parties.

Property provisions of the Property (Relationships) Act 1984 and the Family Law Act 1975

The Property Law Act is comprehensive - please contact Watson & Watson for specific advice on the Property Law Act and how it affects your relationship and legal position.

Time to Act

In property law matters, under each of the property provisions of the Property (Relationships) Act 1984 and the Family Law Act 1975, there are limitation periods in relation to acting and accordingly there is an urgent need to consider the matters and for you to be aware of the time limits.

Property Law Advice