My X is Delaying Property Settlement | How to avoid and what to do…
Separating from your partner is a difficult task which often carries significant heartbreak and emotional stresses. Dealing with these tensions whilst navigating the difficulties involved in a property settlement is by no means a simple task. A significant contributor to the stresses involved is a delay to the property settlement, which involves the division of the parties assets.
Assets include property, money, furniture, superannuation, stocks & cryptocurrencies, etc.
There is a multitude of reasons why a property settlement can be delayed, which often has negative
implications emotionally and financially to both parties.
Reasons for delay in property settlement may include:
• parties failing to agree on a settlement;
• parties failing to provide financial disclosure;
• parties disputing the value of an asset;
• parties disagreeing on contributions;
• parties attempting to hide assets;
• parties refusing to enter negotiations; and
• parties failing to participate in the process entirely.
Unrepresented parties may find it difficult to navigate the complexities of family law and property settlement. Even where parties agree to the distribution of their assets in a property settlement, separated parties should finalise their property settlement by way of Financial Agreement or Consent Orders.
Parties who do not finalise their property settlement run the risk of having their ex-partner renegotiating a new property settlement or filing an application in the Federal Circuit and Family Court of Australia for property orders.
How to accelerate your property settlement:
Without representation, parties often don’t appreciate the difficulties involved in progressing and finalising their property settlements. The following can be done to expedite a property settlement:
• Advise your ex-partner that you intend on finalising the property matters and invite them to propose what they believe to be a just and equitable property division
• Undertake mediation
• Obtain legal advice from a family lawyer
• File an Application in the Federal Circuit and Family Court of Australia (must file within 12 months from the date of your divorce or 24 months from the date of separation for de facto cases.
Whether it be by agreement or court ordered, Salerno Law’s family lawyer are experienced in all
aspects of property settlements.
During these times, you need a competent and experienced family law lawyers who understands what you are going through, thinks carefully and proactively on your behalf and knows how to represent you for the best possible outcome.
If you want to understand your rights, contact Salerno Law and discover why we are Gold Coast’s best family lawyers.
Tyrone Boucher – Salerno Law