The clock is ticking – time limits apply for property settlement in Family Law

It can be all too easy to miss or overlook the deadline for bringing property proceedings before the Family Court following the breakdown of a relationship.  Getting on with establishing a new life, looking after family and coping with the emotion and stress that surrounds this substantial life event often sees people procrastinate in settling property and financial matters with their former partner or spouse. 

It is important to know that the Family Law Act (1975) imposes time limits on applying to the Court for determination of a property settlement. Make sure that you know how the time limits might affect you and seek the advice of an experienced family lawyer to find out how they might impact on the resolution of your property settlement.

If you are divorced, you must bring property proceedings before the Family Court within 12 months of the divorce being final.

If you have been in a de facto relationship, you must commence property proceedings within two years of the date of separation from your partner.

If you do not comply with these time limits, then you will need to seek the special permission of the Court to make an application for property settlement.  Permission is not always granted.

Don’t wait until the eleventh hour. Bringing an application before a Court takes time to prepare and involves the preparation of court documents. Even when you are confident that you will reach an agreement with your former partner, you should contemplate getting legal advice as to what you might expect from a property settlement and how long it might take to prepare an application for the Court should it become necessary.

If you haven’t reached agreement about property or financial matters with your former partner or spouse, then don’t procrastinate. Make a plan, set a timeframe, seek advice. Discuss your own circumstances with an experienced family lawyer now and make sure you have time on your side.