If you have been married or you have been living in a defacto relationship, and you and your partner divorce or separate, then you will probably want to divide the assets you jointly acquired during your relationship or marriage. This division is called a “property settlement”.

 It is always best to get legal advice in relation to your property settlement, because as well as other matters, you will need to understand what your entitlements are, and also what constitutes assets and property from the marriage or relationship.

 Even though parties are almost always in a rush to have their property matters dealt with, this can cause much longer delays and more expense later.  Informal property settlements between parties that have not involved lawyers, Court Orders or Certified Agreements are not legally binding.

Therefore, when separating from your partner and discussing property settlement matters, make sure you obtain legal advice.