Following to a divorce, property is divided between parties. Decisions are taken on the issues of debt at the same time. Property settlement can be done by the lawyers through various means. In several occasions, settlement is executed according to the claims of former spouse. However, both the parties must agree on the terms of settlement at every given occasions. If there is a disagreement then matters can be taken to the court for the purpose of settlement. After coming to an agreement, orders are formalized through family court. Issues related to the maintenance of property are generally taken at the same time.
Is it possible to apply to Federal Circuit Court or Family Court for the property dispute?
Financial matters are generally resolved in the Family Court or Federal Circuit Court. However, de factor association can be managed also in addition divorce cases. In the past, matters related to the marriage are resolved from this court only. Issues related to de factor partners are dealt in the territory or state court. Therefore, state or territory laws are applicable in case of property settlement.
Should you include superannuation within the order or not
In a property dispute, superannuation is treated differently. Importance of the superannuation can be understood in the process perfectly and an adequate decision can be taken. However, it is not essential matter.
How assets are generally divided by the court?
For the division of property, it is not possible to find a specific rule. Verdict cannot be determined by the people beforehand. Decisions are generally taken after looking at every possible avenue. Evidences are judged properly in order to come across to a result on the occasion. Therefore, unique factor of the case is looked at minutely.
Through 1975 Family Law Act, disputes are generally settled in the court following to marriage separation. Same law can be applied for de facto relations also. Principles are kept same on the both issue.
- Calculation is done about the assets and debts before making any decision on the occasion.
- Financial contribution towards the asset is looked at quite intricately. It is important to know about the value of both parties perfectly.
- In addition to financial contribution of direct nature, judiciary looks at the indirect contribution at the same time.
- Inheritances and gifts are seen separately during the process of property settlement.
- Emotional contribution such as home making and child care are also significant.
- To secure the future, requirement of both parties are examined. Health, age, child care, financial resources and earning ability are seen as the factors on the occasion.
Individual circumstances play an important role in the process. Therefore, process may differ from one another.
Time limit of application
Property settlement must be made within a year of separation. However, it can be extended to two years in case of de factor relationship. If the application is not made within the given time limit then special permission may be needed from the court. Permission may not granted by the court every time.