NSW Do I need a consent order if I already have a BFA?

[JamesD1984]

We are a defacto couple with no children and own a couple of properties.

We have a binding financial agreement (BFA) that agrees the ownership of our property and other assets would be settled in the event of a separation.

Should a separation occur, do we really need consent orders if we complying with the BFA?

If we do need consent orders, would we need to have a solicitor execute this if it is just following what the BFA intended?

 

[Danny Jovica]

It would depend on the length of the marriage and the content of the BFA. For instance how it handles contributions of both parties during the marriage and whether the BFA is likely to be challenged.

Your situation sounds ideal for private mediation if the parties are in some dispute, rather than go through the expense of litigation, private mediation can help the parties reach an agreement without the need for huge legal expenses. The content of that agreement as to finalizing matters could then be registered with the Court so it becomes enforceable. This way rather than things escalating to a conflict, the mediator works with the parties and your solicitors in a mutual, neutral and future focused collaborative way, rather than an adversarial conflict.

You can contact me through my website, mediation is a fast and effective way to resolve disputes, it can even accommodate busy lifestyles and schedules with online conferences.

 

[JamesD1984]

Thank you. When you say "The content of that agreement as to finalizing matters could then be registered with the Court so it becomes enforceable", is that via a consent order?

 

[Rod]

No, you don't necessarily need consent orders. If you have confidence the BFA has been done correctly then worry about a split at separation, not now.

 

[Danny Jovica]

Thank you. When you say "The content of that agreement as to finalizing matters could then be registered with the Court so it becomes enforceable", is that via a consent order?

Yes right, the mediation would help you work through the content of the agreement, and then the outcome would be consent orders registered with the court.

Of course this is only needed if you guys DON"T AGREE on things on separation.

If you both agree, then there is no need for any Court intervention.