In circumstances of de facto separation, the date of parting is of great importance when it comes to determining property settlements. It is encouraged that parties try to settle their differences refraining from the use of legal action. Such can be done through the use of either binding financial agreements or consent orders, both of which our Family law team are able to assist with and to advise you on what the better avenue would be for your particular situation.
Binding Financial Agreements can be used to cover property or financial resources that a couple have bought into, or accumulated during the relationship. Such agreements may be found useful as they remove the authority of the courts in making orders of property settlements. In order for agreement to be binding and thus enforceable the following formal requirements must be met:
the agreement is in writing and signed by both parties;
the parties have signed a statement specifying that they have received independent legal advice from a lawyer in regards to specific matters;
certification from the lawyers which is attached to the agreement;
the agreement is not to be terminated or set aside; and
a signed copy is given to each of the parties to the agreement.
Consent Orders are made by the Court with the prior consent of both parties. Further, the order has addressed the agreed upon position of the issues either during dispute resolution, or settlement negotiations. Applications for consent orders are made:
orally during a hearing or a trial;
by giving a draft consent order to a judicial officer, magistrate or judge during an event in court; or
by filing an application (Family Law Rule 10.15).
To receive additional advice regarding de facto property settlement, our Accredited Family Law Specialists are available to assist you. Speak to our Family Law team today to guide you through the process and assist you with the formal requirements of creating binding financial agreements.
Speak to one of them today.
Click here for more information on Property Settlement.
For advice about negotiating a Property Settlement Agreement contact us on 1800 300 170 or email us at familylaw@matthewsfolbigg.com.au
