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Property Settlement if I Got a Divorce?

Discussion in 'Family Law Forum' started by MarkLiu, 14 May 2014.

  1. MarkLiu

    MarkLiu Active Member

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    Hi all lawyers,

    My wife had a unit with mortgage before our marriage. After we married she rented out that unit and she paid the mortgage with the rent. She had paid all the mortgage 5 years ago. Now we have married for 12 years and we moved into that unit three years ago. We sold that unit two years ago and bought a new unit. And the owner of the new unit is her name only. And she pays the mortgage for the new unit because my wage is low. If we a divorce, can I get any property settlement from that new unit under family law?

    Thanks.
     
  2. Michael T

    Michael T Well-Known Member

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    Hi Mark,
    No one can tell you what you would get, unless you come to an agreement with your wife (and formalise the agreement as Consent Orders).

    If, once separated and applying for divorce and property settlement, you and your wife can't agree, then the Family Court would decide (taking a number of things into consideration). See the Family Law Courts 'Financial Cases' page that sets out the general principles for a court to settle financial disputes under the Family Law Act which are based on:
    • working out what you've got and what you owe; that is, your assets (including superannuation) and debts and what they are worth
    • looking at the direct and indirect financial contributions to the marriage/de facto relationship, such as wage and salary earnings
    • looking at indirect financial contributions such as gifts and inheritance from families
    • looking at the non-financial contributions to the marriage/de facto relationship such as caring for children and homemaking
    • factors such as standard of living during the marriage/de facto relationship and the length of the marriage/de facto relationship
    • future requirements, including things like age, health
    • future resources, including financial resources, care of children and ability to earn, child support which is being or is likely to be paid, the financial situation of someone with whom you are now cohabiting, any legal obligation to support other people in the household.
    Hope that gives you an indication.
     
  3. John R

    John R Well-Known Member

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    Michael T likes this.
  4. MarkLiu

    MarkLiu Active Member

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    Thank Michael and John for your advice. Thank you so much.
     
  5. MarkLiu

    MarkLiu Active Member

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    How should i do if my parter transferd her money to her friends when property settlement because i don't know her bank account. And how should i do if she hidden some property or moeny.
     
  6. Michael T

    Michael T Well-Known Member

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    Then you'd likely engage a forensic accountant.
     

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