Property Settlement
When a relationship ends—whether you were married or in a de facto relationship—figuring out who gets what can feel overwhelming. That’s where property settlement comes in.
This process helps you and your ex divide your assets, debts and financial resources fairly. It can be simple or complicated, depending on your situation. Either way, getting the right legal advice from experienced family lawyers like CIA Lawyers can make a world of difference.
Let’s break it all down.
What Property Settlement Means in Family Law
Property settlement is the legal process of dividing property and financial matters after a separation.
It includes:
- Homes, land, vehicles and investment properties
- Superannuation
- Savings, shares and businesses
- Debts like mortgages, credit cards and personal loans
- Other financial resources, like an inheritance or trust fund
You don’t have to wait until divorce to sort out your property. You can do it any time after separation. But there are strict time limits, which we’ll explain shortly.
Who Can Apply for Property Settlement?
You can apply for property settlement if you:
- Were married
- Were in a de facto relationship (including same-sex couples)
- Meet certain conditions if you were in a close personal relationship but not living together as a couple (rare, but possible in some cases)
The Family Law Act 1975 applies across Australia, so the process is largely the same no matter where you live. However, minor differences in court procedures may apply in each state or territory.
Time Limits You Need to Know
Don’t leave it too late. There are deadlines.
- If you were married: You must apply within 12 months of your divorce becoming final.
- If you were in a de facto relationship: You must apply within 2 years of separation.
Miss the deadline? You’ll need permission from the court to apply, and that’s not always granted.
What the Court Considers
If you and your ex can’t agree, the court will step in. When that happens, it looks at several things:
- What’s in the property pool – all assets, liabilities, and financial resources.
- Contributions by each person – financial (like income or a house deposit), non-financial (like renovations), and contributions as a parent or homemaker.
- Future needs – who’s caring for children, age, health, income-earning ability, and more.
- Whether the division is just and equitable – it’s about fairness, not a 50/50 split.
How to Make a Property Settlement Agreement
There are three main ways to formalise a property settlement in Australia. Each has its pros and cons.
1. Informal Agreement
This is a verbal or written agreement between you and your ex.
It’s:
- Quick
- Cheap
- Easy to do
But… it’s not legally binding. That means if someone changes their mind, the other person can’t enforce it. It’s risky, especially if one of you earns more, has more super, or expects an inheritance.
This might work if there’s not much property to divide. Still, we recommend getting advice first.
2. Binding Financial Agreement (BFA)
A BFA is a written legal agreement that sets out how your property will be divided.
It can be made:
- Before you live together or marry
- During the relationship
- After separation or divorce
BFAs are legally binding and enforceable. But both parties must receive independent legal advice, and it must be properly drafted to hold up in court.
Pros:
- Flexible
- Private (no court involvement)
- Useful for protecting assets or future inheritances
Cons:
- Can be costly to prepare
- Not as easy to change later
- Can be challenged in court if not done properly
This is ideal for couples who want control without court involvement.
3. Consent Orders
Consent orders are agreements approved by a court.
They’re:
- Legally binding
- Easier and cheaper than going to trial
- Harder to overturn
To get consent orders, you must complete full financial disclosure, so each party knows the full picture. The court will only approve them if it believes the agreement is fair.
Consent orders are a good option if you agree on the split but want legal protection.
What About Superannuation?
Yes, superannuation can be split as part of your settlement.
But super’s not like cash—it can’t usually be withdrawn early, and its value depends on many factors. Whether you’re the primary earner or a stay-at-home parent, splitting super can help balance things out.
The superannuation fund must be notified and given certain documents before a split is made. It’s important to get legal help here to make sure all the paperwork is correct.
Transfer Duty Exemptions
Good news—if you’re transferring property as part of a formal property settlement, you may be exempt from paying transfer (stamp) duty.
Each state and territory has its own rules, but generally:
- You must have a formal BFA or consent orders
- Informal agreements usually won’t qualify for exemptions
This could save you thousands. Learn more from the ATO or let us handle it for you.
Why Choose CIA Lawyers?
At CIA Lawyers, we help you sort out your property settlement quickly, fairly, and with as little stress as possible.
Our team of expert family lawyers will:
- Explain your rights in plain English
- Help you negotiate a better deal
- Prepare a legally solid agreement
- Keep you out of court, if possible
- Represent you fiercely if court is necessary
We’ve helped hundreds of Aussies protect what matters most. Let us help you too. Call us now or book a consultation online. The sooner you get advice, the better protected you’ll be.
Final Thoughts
Sorting out a property settlement after separation isn’t just about who gets what—it’s about securing your future, protecting your rights, and moving on with peace of mind.
Whether things are amicable or a bit tense, having a solid agreement in place saves you stress, time, and money down the track.
FAQs
- Can we do property settlement without getting divorced?
Yes, you can. You don’t have to wait for a divorce. You can finalise your property matters as soon as you separate.
- What if my ex doesn’t agree to a property settlement?
You can try mediation. If that doesn’t work, you can apply to court. The court will then decide how the property is split based on fairness.
- Can I get property settlement if we weren’t legally married?
Yes. If you were in a genuine de facto relationship, you have the same rights under Australian law as married couples. But you’ll need to prove your relationship meets certain criteria.
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