About Property and Financial Settlements

What role does the court play in property settlements?

The Family Court has the power to make orders for property settlement. All of the assets of the parties, whether the assets are in joint names or not, are taken into account. Each party has an obligation to fully disclose his or her financial position to the Court and the other party.

The Court is obliged to make orders which are “just and equitable” having regard to:

• the financial contributions of each of the parties;
• the non-financial contributions of each of the parties, particularly in the role of homemaker and parent;
• the future financial position of the parties, including the need to provide for children and the capacity of the parties to provide for those needs.

When can I apply for a Property Settlement?

Applications for Property Settlement can be commenced at any time up until 12 months after a divorce becomes final. Different limitation periods can apply for de facto couples.

Why should I choose Watts McCray for my property settlement?

At Watts McCray, our Family Lawyers are well versed at analysing property issues, including complex financial arrangements, and are able to advise on the optimum presentation of property applications. They can also advise you on the likely outcome of the case if it proceeds to Court. Our aim is to provide you with realistic advice and to see matters finalised to your satisfaction as early as possible.

Who implements the property settlement?

The implementation of property settlements (after Orders have been made) will be handled by the commercial arm of Watts McCray who are specialists in Commercial and Domestic Real Estate, including Conveyancing, Mortgages, Leasing and Stamp Duties. They can also assist you in any proposed sale or purchase of property and the related financing arrangements.