Contents

Property
New South Wales

/Nsw/Property/nps1.htx Property settlements

PROPERTY SETTLEMENTS

This fact sheet is general information only. If you need a lawyer, try LawMatch™ a free service that matches you with a lawyer who meets your legal needs and preferences.

What 's a property settlement?

If you are married to someone and you separate or divorce, you will want to divvy up the property at some stage. Lawyers call this a property settlement.

You can do it by agreement or by going to court.

What's "property"?

This is not a straightforward question. Property includes many different types of assets, eg:

Note. From December 2002 superannuation interests are treated as property which can be dealt with as part of the property settlement process.

Thinking about a property settlement

Start thinking about it as soon as you separate. You can apply to a court before your divorce or after, but don’t wait for more than twelve months after the "decree absolute" - this is the order that permanently ends the marriage. If you do, the court may tell you that you are out of time.

What factors are considered

There are two main issues:

  1. Contributions made during the marriage, i.e.
  2. You and your husband/wife's future needs, i.e.

The children's welfare is one of the most important considerations. The court will want to see that the person, who has the children living with them has their needs met.

What law applies

The Family Law Act covers all areas of property division.

Solving disputes

There are number of way that you can divide property after separation. You can:

Do I need a lawyer?

It depends on the assets that you own, but usually it is well worth employing a lawyer to make sure you get what you are entitled to. Property settlements are often tricky, and it can also be very difficult to change the situation after a bad settlement.

 

Read this: This fact sheet is intended to be general information about the law in New South Wales. It is not substitute for legal or other professional advice. Lawscape Communications P/L does not accept responsibility for loss to any person, who either acts or does not act because of this fact sheet.

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