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VIC Property Settlement - Include Overseas Property?

Discussion in 'Family Law Forum' started by Tarcin, 18 March 2015.

  1. Tarcin

    Tarcin Member

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    Hi just a question about a property settlement.

    Does property owned from another country outside Australia need to be included for property settlement?

    Thanks
     
  2. AllForHer

    AllForHer Well-Known Member

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    Yes, property held abroad will be considered part of the joint asset pool provided the other party has an interest in it in any way, such as benefiting from the income, or contributing to the mortgage. If it was owned or purchased during the marriage, they will be considered to have had an interest in it.

    I hope this helps.
     
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  3. Tarcin

    Tarcin Member

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    Thank you for the answer. One more question please.
    If the property settlement is not made in the normal 12 months after divorce period, in what ways can a property settlement be considered in court? Are there limited excuses, if so what excuses can be given? Thanks
     
  4. AllForHer

    AllForHer Well-Known Member

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    To apply for a property settlement outside of the 12-month limitation period, you would need to have leave of the court. Ordinarily, this requires you to prove that you have, or will, suffer extreme financial hardship as the result of not reaching a property settlement.
     
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  5. Tarcin

    Tarcin Member

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    Thank you, your answer helped me out again
     
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