Property Settlement Consent Orders
The client and their ex-partner have come to an agreement regarding the terms of their property settlement, with the total estimated value of the properties being approximately AUD 2,900,000. They have not engaged in mediation thus far, but the properties were valued recently. There are currently no court orders or pending legal proceedings relative to their property or relationship. The client intends to file for the consent order by January 2025. It has been eight years since the separation. The client noted that their ex-partner sold a property in 2012, utilizing the proceeds to acquire another property under a third party's name. The client is preparing necessary documentation for the consent order.
Questions about this case
These answers have been verified by a lawyer in the LEAP networkWhat are the steps involved in obtaining a consent order for a property settlement?
To obtain a consent order for property settlement, follow these steps: 1. Draft the consent order, ensuring it reflects the agreed terms of the property settlement. 2. Complete the Application for Consent Orders form, available from the Family Court. 3. Lodge the application and consent order with the Family Court, along with the filing fee. 4. The court reviews the documents to ensure the settlement is just and equitable. 5. If approved, the court issues the consent order, making the agreement legally binding. Given the significant value of the properties, consulting a solicitor may be beneficial to ensure all aspects are properly addressed.
How long does it typically take to finalise a consent order for property settlement?
Typically, finalising a consent order for property settlement can take between 6 to 12 weeks from when all necessary documents are lodged with the Family Court. Since you and your ex-partner have agreed on the settlement terms and have recent property valuations, this can expedite the process. However, any complexities, such as previous property transactions, could affect the timeline if further clarification or documentation is required.
Are there any specific documents or evidence I need to prepare for a consent order?
For a consent order in your property settlement, prepare the following documents: 1. Draft copy of the proposed consent orders, including terms agreed with your ex-partner. 2. Recent valuations of all properties involved, considering their combined value of approximately $2,900,000. 3. Documentation evidencing any financial agreements or transactions, especially concerning the earlier property sale and its purchase under a third party's name. 4. Financial statements detailing assets, liabilities, and superannuation interests. 5. Any correspondence or agreements that demonstrate the terms agreed upon.
What happens if my ex-partner and I cannot agree on the terms of the property settlement?
If you and your ex-partner cannot agree on the terms of the property settlement, you may consider mediation or negotiation to help reach an agreement. If these methods fail, applying to the Family Court for a financial order may be necessary, wherein the court will make a determination regarding property division based on contributions made by both parties.
How does the Family Court assess whether a consent order is fair and reasonable?
The Family Court assesses whether a consent order is fair and reasonable by considering whether the agreement adequately reflects the parties' intentions and is equitable given the circumstances. Factors include financial contributions by each party during and after the relationship, future needs such as the care of children, and each party's earning capacity.
