Level 5, 170 Queen Street, Melbourne, VIC, 3000
Phone: 03 8602 2000 Email: admin@schetzerconstantinou.com.au
FAQ: Property
- What is a property settlement?
- What is "property"?
- I'm sure my partner is hiding assets. Can I look at the records before I agree on anything?
- We had the house registered in my partner's name and he/ she says he/ she is going to sell it. Can I stop him/her?
- My parents gave us $50,000 last year, who gets that money?
- We were divorced more than a year ago; can I still get a court order?
If you are married or in a de facto relationship and you divorce or separate then you will want to divide your property. This division is often referred to as a "property settlement".
A very wide range of interests are considered to be property including real estate, investments, cars, companies and trusts. Soon even superannuation is now seen as property to be divided in a property settlement.
If you suspect that your partner has assets that you don't have details of then you can get access to his or her business documents, tax records, financial records and other details.
The Court will look to the intention of the person making the gift and when the gift was made - it may be seen as a late contribution by the party whose parents provided the funds.
Normally you have to make an application for property settlement within 12 months of your divorce.
After 12 months you will first have to convince the Court that you will suffer hardship if you are not allowed to apply.