09 Mar Your right to property
Whether it be a marriage or de facto relationship, determining how to distribute your property and assets after a relationship breakdown can be stressful.
You may often hear lawyers use the term “property settlement” in these circumstances and wonder how it works. A property settlement refers to the distribution of assets occurring from a relationship breakdown. It brings with it the misconception that each party will inevitably obtain 50/50% split of the assets once married or in a de facto relationship. This is not true. There is no presumption that either party is entitled to 50% of the relationship assets.
Usually after separation it is reasonable that property is divided, however, the way that it is distributed will depend on your particular circumstances. It may not be relevant that the property may only be in one person’s name, and even if your earnings are little or none at all, you may still have rights to property.
To avoid uncertainty, speak to one of our lawyers today and have your property settlement handled the right way.