Ways to Document your Property Settlement so it is binding and enforceable
How is property settlement documented so that you can rest assured it will be binding and enforceable, as well as final, so that there can be no come back at a later date?
Some people think they can write it down on a piece or paper or in a Statutory Declaration and get it signed.
This is pointless as a Court will not accept that as legal evidence of your property settlement.
There are only 2 ways you are able to document your property settlement agreement so that it is legally enforceable and binding:
- Consent Orders made by a Court; or
Sometimes people think if they write out their property settlement and both sign it, both sign a Statutory Declaration etc, then their property settlement agreement may still be valid and enforceable.
Unfortunately, there are no short cuts.
If you do not document your property settlement agreement using either Consent Orders or a Binding Financial Agreement, it will not be valid, binding or enforceable.
You can use either Consent Orders or a Binding Financial Agreement to document your property settlement if you have reached final agreement, either on your own, during a Mediation, or with the assistance of a lawyer.
After considering your own personal circumstances, a lawyer can advise you of the advantages and disadvantages to you of documenting your property settlement agreement using either Consent Orders or a Binding Financial Agreement.
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Other Pages in the Property Settlement Section
- What does Property Settlement & Division involve
- How do I work out how much I will get or pay – How is Property Division Calculated: The 4 Steps
- Do I have to document your Property Settlement Agreement
- Risks of not documenting your Property Settlement
- How do you document your Property Settlement
- Consent Orders or BFA to document Property Settlement
- Property which must be divided
- Your Company & Property Settlement
- Your Business & Property Settlement
- Trusts in a Property Settlement
- Repaying Loans or Gifts from relatives made during Relationship
- Property Settlement & Superannuation Splits
- Stamp Duty, Capitals Gains Tax & Property Settlement
- Bankrupt Spouse in Property Settlement
- Third Parties (Banks, Creditors, Family) in Property Settlement
- Property Settlement Time Limits