Dividing your property
If your relationship ends, property may be divided between you and your partner.
What can be divided?
Property includes assets (things you own) and liabilities (things you owe money on), and there are many things that must be considered in deciding who gets what property, especially if children need support. See Fair division of property and Child support and maintenance.
Can we come to an agreement?
It is a good idea to try to come to an agreement about property. You should get legal help even if you agree, and get financial help, such as through a financial counsellor. See Property and financial agreements.
In most cases, the law says that you should try to resolve disputes before you go to court. If you can’t agree about how your property is divided, there are family dispute resolution services that can help you. See Family dispute resolution.
Going to court
If you still can’t agree about how to divide property, you can apply to the court for a property settlement. See Going to court.
Who can apply for property settlement?
You can apply for property settlement, if you were married and are now separated or divorced, or if you were in a de facto relationship and separated after 1 March 2009. See De facto and same-sex relationships.
When should I apply for a property settlement?
You can apply for a property settlement after separation, but it is important to try and sort it out as soon as possible:
- An application for de facto property settlement where couples have separated after 21 December 1999 must be made within two years from the day of separation.
- An application for property settlement must be made within 12 months of divorce becoming final (divorce order that has come into effect).
See Fair division of property and Protecting your property.