Common items of Property divided
in Property Settlement
Each couple will have different property based on their own circumstances.
Accordingly, an exhaustive list of property cannot be given, although some common examples can be listed.
Examples of assets include:
- Motor Vehicle, Motor Bike, Scooter, Caravan, Truck, Trailer or other Vehicle;
- Boat, Yacht, Catamaran, Jet Ski or other Water Craft;
- Shares, Managed Funds and similar Investments;
- Collectables (eg. artwork; wine cellar; antiques, coin, stamp or similar collections);
- Monies owed to one or both spouses;
- Intellectual property having a market value (eg. patent, trademark, copyright);
- Entities and businesses (eg. Companies, Trusts, Partnerships, Joint Ventures, Sole Trader and other Business Interests);
- Any other asset having a value (eg. Tools of Trade, Frequent Flyer Points, Unused Annual or Long Service Leave, Machinery, Overseas Assets, Livestock, Investment Scheme).
Examples of Financial Resources include:
- A Future Entitlement such as an Inheritance or Compensation.
Examples of liabilities include:
- Future taxation or other liability as a result of property settlement division;
- Other monies owed to a third party.
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Michelle Beatty, Senior Lawyer
Other Questions answered in the Property Settlement Section
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