Property Settlement (pt 1)
A while back I had two separate clients who had fallen into the same matrimonial property settlement trap. What is that trap you ask? For married couples your rights to bring matrimonial property proceedings against the other party without the leave of the court expire 12 months from the date your divorce becomes effective (and 24 months from the end of the relationship for de-facto couples).
My client’s story: After separation Mr and Mrs A struck a verbal agreement on how to divide their property. The deal was not fair to Mrs A and she knew it, but she said she would agree to it if Mr A agreed to collect the children from school whenever she was working a night shift. Mr A agreed to this and the property was divided. Mrs A then filed for a divorce which was granted. Mrs A had unknowingly fallen into the trap. Unfortunately, Mr A knew it. Almost 12 months to the very day after their divorce order was made Mr A said he would no longer collect the children from school. Understandably, Mrs A wanted to take court action to get a better property deal.
Fortunately, what Mr A did not know is that a divorce order only takes legal effect one month and one day after the date it is made. Mr A had sprung his trap too early! Mrs A filed in court for a property settlement with 1 day to spare!!
The other client was in a de-facto relationship – I’ll tell you about that trap in another post.
If your rights to bring property proceedings have expired, take advantage of our no cost first interview to speak with us as there are limited circumstances where time can be extended.
CAUTION: This article contains general information of public interest only and is not intended to be, nor should be relied upon as, legal advice specific to the reader’s personal circumstances. Should you have a legal matter, please seek professional advice before acting or relying on this content.