What is the Time Limit for Property Settlement
There are time limits within which you must do your family law property settlement.
You can do your family law property settlement as quickly or as soon as you want after separation.
There is no minimum time period you have to wait to do a property settlement, although emotionally, parties usually need a little time to have elapsed since separation before they can properly consider property division.
A maximum time limit does apply.
There must be an Application to the Court for property settlement filed in the appropriate Court within:
- 1 year of a Divorce becoming “absolute” for married couples. A divorce becomes “absolute” when the Court issues a Certificate of Divorce – usually 1 month and 1 day after the Divorce hearing; or
- 2 years of separation for de facto couples.
Extending Time seeking “Leave to Proceed” if Time Limit has expired
If the time limit has expired you can make an Application to the Court for “leave to proceed” notwithstanding the expiration of the time limit.
If “leave to proceed” is granted then the time frame you have to pursue your property settlement has been extended.
An Application to the Court for leave to proceed with a property settlement outside the time limit will only be granted in limited circumstances.
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Other Pages in the Property Settlement Section
- What does Property Settlement & Division involve
- How do I work out how much I will get or pay – How is Property Division Calculated: The 4 Steps
- Do I have to document your Property Settlement Agreement
- Risks of not documenting your Property Settlement
- How do you document your Property Settlement
- Consent Orders or BFA to document Property Settlement
- Property which must be divided
- Your Company & Property Settlement
- Your Business & Property Settlement
- Trusts in a Property Settlement
- Repaying Loans or Gifts from relatives made during Relationship
- Property Settlement & Superannuation Splits
- Stamp Duty, Capitals Gains Tax & Property Settlement
- Bankrupt Spouse in Property Settlement
- Third Parties (Banks, Creditors, Family) in Property Settlement
- Property Settlement Time Limits