Property division, as a result of divorce or separation, can be a relatively straightforward process, while many can also be complex. Adding to this are the emotions associated with the underlying reason as to why property division is occurring in the first place – divorce or separation.
White Berman Barristers & Solicitors has been helping clients with a range of family law matters, including property division, as a result of divorce and separation since 1981. Our experienced team has managed countless complex and straightforward property division matters.
We strongly advise clients that appropriate legal advice be obtained at the outset to obtain the best outcomes for all parties involved.
Property Division Resolution
Typically, one or a combination of the following methods is used to reach a property division agreement:
1. Informal Arrangement
2. Family Dispute Resolution
4. Court Ordered Property Settlement
The Property Division Process & the Property Agreement
The first part of the property division process is that the property pool must firstly be identified. This involves working out all assets to be divided amongst the couple. The property agreement is used to negotiate how the property will be divided and formalisation of this document then occurs.
If the couple can reach a decision between themselves, the benefits are many, including not having to go through the Courts, fewer lawyers’ fees and it is often a quicker process.
Informal Property Division Arrangements
Parties to the relationship might also come to an informal agreement about how property will be divided. This means that no property division agreement will be in place. One of the largest drawbacks with this option is that it is not legally binding and problems can arise later on.
Family Dispute Resolution (FDR)
The Family Dispute Resolution process helps parties reach a property division agreement with the assistance of an independent FDR practitioner. These individuals assist with negotiation and are not able to provide legal advice. As such, it is recommended that lawyers be engaged during the FDR to provide advice and information.
The Lawyer’s Role
In cases where both parties will not negotiate or are unable to reach an Agreement, lawyers can do so on their behalf. In this instance, parties do not have to negotiate directly with each other. Not only will the lawyer provide advice, they will also do the negotiation. If the Agreement surrounding property division can still not be reached, the matter must go to Court.
A Court Ordered Property Settlement
When a property division matter cannot be settled, the case will go to Court and a Court will order the property settlement. This can often be a costly solution and can result in an unfavourable property division settlement for either one of the parties.
White Berman Barristers & Solicitors in both Adelaide and Modbury are experienced in all property division matters. To arrange a free, confidential discussion about your property division matter, please contact us today.