I have heard there are time limits, what does this mean to me?

I have heard there are time limits, what does this mean to me?

• If you are in a de facto relationship that has broken down you have two (2) years to finalise your property settlement from the date of separation.

• If you were married and have separated, the time limit will apply, after you have applied and have been granted a divorce. You must be separated for a minimum of twelve (12) months before you can apply for a divorce from your spouse.

• If you have received your Certificate of Divorce, you have twelve (12) months to finalise your property settlement and/or spousal maintenance claim.

• Whilst strict time limits apply, if you have missed the ‘due date’ you may be able to ask the Court for leave to make an application for a property settlement to be heard “out of time.”

• The assets and or liabilities you acquire post-separation are still part of the relationship property. You may have to share the fruits of your labour, or the losses of your ex, post separation, until such time as you have a legal document defining what is yours and what is theirs.

• Caveats are also subject to limitations depending on the circumstances in which the Caveat was filed.  If you have an interest in property, talk to us so we can advise you in detail about your rights under the current legislation.

 

Call us now so we can clarify your position.