Property Settlement

Property matters must be settled within 12 months of the Divorce Order taking effect for a married person, and two (2) years from the date of separation for de facto couples. We recommend that property matters be settled before filing for divorce. 

Under some circumstances of financial hardship, the Court may allow property settlement proceedings to take place more than 12 months after the divorce, or 2 years after separation (for de facto couples) however these are rare circumstances and you should not rely on them. 

Property settlements can be an informal agreement between you and your former partner. Even though your separation may seem amicable it is still worth formalising the property settlement in the eyes of the law, just in case the other person changes their mind and surprises you later with legal proceedings to reclaim some of the property.

Many people assume that the law is biased towards one person or the other in a property settlement, or that one person has a greater chance of “winning” more of the property pool based on some aspect of the relationship.

One person can’t reduce the amount of property that will be divided up, by hiding, spending or destroying it. The Court does not look very kindly on people who try to pull those kinds of tricks, and it usually results in the value of the lost property being deducted from their own share. 

Property settlements can also include spousal maintenance if you or your former partner has a need for financial support. Spousal maintenance may be a one-time payment, or it may be an agreement to make regular payments for a set period of time (or indefinitely in some circumstances). 

At RMDS, we will help you to work out the size of your property pool, your considerations and wishes, and begin processes to negotiate an outcome between you and your former partner that allows you to both move on with life, apart.