VIC Avoid going to court for the property settlement after 12mths has passed sicne divorce

[Countryboy]

Hi,

I was married for 10 years and got divorced for almost two years by now. Yes, 12 months has passed since the divorce order came in to effect.
I am aware "once your divorce is final you only have 12 months to make an application to the Court for a property settlement unless there are exceptional circumstances."

This month, finally the house (lived in by my ex) is sold. Now it is time to discuss property settlement.
It is in both parties interest to settle things swiftly and less costly.

- Can we avoid going to court for the property settlement? May be by getting solicitors drafting a binding financial agreement?

 

[Rod]

Yes.

Depends very much on the attitude of your ex.

We can assist with the drafting of an agreement.

 

[Countryboy]

Hi Rod,

My ex. also wanted to settle out of court as it will be very expensive and take long time to ask for court permission etc. and the heavy involvement of solicitors.

After posting, I continued reading and on one website, it's saying we could only do financial settlement by a binding financial agreement within 12 months period. So I got confused.

Could you please eleborate a bit more about different pathways for doing financial settlement after the 12 months period has passed? It's for education purpose for all readers.

Cheers.

 

[lostinspace]

Yes, you are better off making this agreement in principle between yourselves, and then getting own solicitors to put it in writing, so that both parties have an uphill battle changing mind on a whim.

Like above, it depends on both your attitudes, often people say such things, then get stuck on some small thing and then get solicitors to fight it out, only to spend a lot of time and money for an even poorer result.

Get some advice on what is "fair" , and do not try and rob the other party, even if they say they do not care, if for any reason you end up in court, you want to be able to show you were reasonable, in other words, if any party takes advantage or cheats the other party it can be undone I would say, but I am no lawyer.

 

[Rod]

You can negotiate anything you want by private agreement. You may be able to seek leave of the Family Court if there is no agreement, or alternatively use a State court (County or Supreme) for division of the home.

Without details I can't say which way is better if it doesn't resolve. Certainly the best option is a private agreement BEFORE the property sale settles.

 

[Countryboy]

It has to be after the property sale settles in our case.

House settlement today and we only have the money to deal with from now.
We hope to have a swift and fair agreement, split the money and part way without having to go to court.

 

[Atticus]

We hope to have a swift and fair agreement, split the money and part way without having to go to court.

Try AMICA ... It's a Govt AI tool helping separated couples avoid the drama & costs of lawyers.

Section 44 of the family law act still allows an application for consent orders in circumstances where both parties agree to the application out of time.
That would be the least costly option ... A BFA after 12 months of divorce is another option. Expect to pay between $4- $7,000 each

 

[Countryboy]

Thanks Atticus. "A BFA after 12 months of divorce is another option" if posible by law is my preferred option.

 

[lostinspace]

You can make a BFA with anyone anytime. It is a matter of it will stick or be enforceable when the crunch comes.

Get advice on how effective it will be in your case, a lot will also depend on how much is at stake.

 

[Countryboy]

Appreciate all your answers for my case. The information has been very useful.

Good news. We have agreed to draft a BFA and avoid court all together.
- Asset pool to split only includes the money from the house selling and superanuation
- Not to include any personal debts and assets (vehicles, savings, etc.) to keep it simple

Same situation (12months has passed after divorce), new question:
Can we split our suppers using just BFA? Can I request superfund to release part of my fund to pay my ex. (to her fund) just by the BFA?