When a marriage or de facto relationship ends the issues left to
be resolved can often be complex. It is an emotional and often
confusing time and it may not be easy to see how those issues
should be dealt with.
There are many misconceptions regarding property distribution
- You don't need a property settlement unless you own a
- I owned it before I got married /entered the relationship
therefore it's mine.
- My name is not on the Certificate of Title or mortgage and
therefore I have no rights to the house.
- I worked hard in this business and it's mine.
- I'll lose my rights if I leave.
- I get to keep my inheritances and individual gifts.
- Being a mum at home isn't a real job.
Any agreement reached in respect of property should be
formalised by way of Consent Order through the court or Binding
Financial Agreement. We can advise you on the differences between
these two options and help you obtain what is right for you.
Binding Financial Agreements
If the parties want the agreement to be kept out of the public
record, they can choose to formalise their agreement by way of a
Binding Financial Agreement.
To do this, one party's lawyer draws up the agreement. When both
parties and their respective lawyers are happy with the terms of
the agreement, each party will receive independent legal advice
about the agreement from their lawyer. The parties sign the
agreement and the lawyers sign a statement that the advice has been
provided making the agreement binding.
The main difference between this and a Consent Order is that a
Binding Financial Agreement is not reviewed by the court and each
party needs their own independent lawyer.
Binding Financial Agreements can be otherwise referred to as a
Pre Nuptial Agreement.
A Consent Order can be obtained through the court to formalise
your agreement regarding property after separation (including de
facto) or divorce. You do not need to appear in court to obtain a
Consent Order, but it is reviewed by the court. This means that
each party does not have to be represented; one party can instruct
a lawyer on their behalf to draw the documents. Please note that a
lawyer can never act for both parties but the other party can
simply chose not to get legal advice.
Unlike a Binding Financial Agreement, children's issues can also
be addressed in Consent Orders.
We can prepare the necessary documents including drafting the
Court Orders which are then executed by the parties and filed
in court together with a filing fee.
At Andersons we can assist by conducting the whole process on
Your first step to security is to make contact with one of our experienced Family