Contact Us

Property Settlement After Separation – Divorce, De facto Relationships – House Valuation:

Division of Matrimonial Property

A relationship breakdown is a very traumatic time in a couple's life. In addition, the conflict surrounding the division of property, assets and custody of children can cause significant stress and grief.

Suppose you and your partner decide to separate and jointly own property. In that case, Australian Valuers can assist you with sound, professional advice, in consultation with you and your legal representatives, regarding the division of matrimonial property.

Family Law Act 

Depending on the total value of assets and the complexity of matters involved, settlement decisions may be heard before the Family Court of Australia, the Federal Circuit Court of Australia or a Local Court.

The Court will refer to the Federal Circuit and Family Court of Australia Act 2021 when deciding the outcome of financial disputes after the breakdown of a marriage or a de facto relationship.

What is the Property Settlement Process? 

Property settlement for divorcing and separating couples is calculated using a four-step process, which means that the division of assets will be unique according to your family's personal circumstances. 

Step 1. Identification and Valuation of Assets, Liabilities and Financial Resources; 

The first step is to identify each party's assets, liabilities and financial resources, regardless of when and how they were acquired. Then a monetary value is placed on each.

Each party is free to engage an independent property valuer; however, some choose to instruct one valuer to act on behalf of both parties. This is called using a "single expert witness". Using one valuer means that there will be no disparity in the outcome of the valuation.

When engaging a property valuer in a matrimonial settlement, they must have real court experience and a proper understanding of the court process.

Australia Valuers has the expertise necessary to ensure that your needs and expectations are met and will provide comprehensive documentation supporting the final valuation.

Step 2. Assessment of Financial and Non-Financial Contributions; 

The Court will take any financial and non-financial contributions to the property and the family's welfare into account.

Non-financial contributions include labour that has resulted in an increased value of the property as well as unpaid home duties.

Step 3. Consideration of Future Needs; 

Once the share of the property has been allocated, the Court must adjust to account for the future needs of each party. These include age and health, employment prospects and financial resources, future earning capacity, who will care for any children, and the length of the relationship.

Step 4. The decision of Equitability in Court  

After examining the outcomes of steps one through three, the Court will then decide whether the proposed division of matrimonial property and assets is fair and equitable. 

GET A FREE QUOTE BY FILLING OUT YOUR DETAILS ABOVE