VIC Protection of new asset after marital separation but before settlement

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Christopher Long

New Member
19 July 2017
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Hi all,
Furtive me if this is in the wrong forum.
I am currently separated but we have not settled finances yet.
I wish to borrow some money from my parents to buy a block of land outright.
My question is can there be a legal agreement to exclude the new asset from property settlement when it occurs? More importantly, will it hold up? I don't want to be put in a position where the lawyers from the other side have access to the new block of land.
Thanks in advance.
 

Rod

Lawyer
LawTap Verified
27 May 2014
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If an application been made to court for a property settlement then you may be OK as assets are generally worked out at time of application. Plus you would have a loan agreement so any asset would be offset by the liability for the loan.

However .... if it was me, I'd hold off until the issues were clear. Things do not always go as expected in court so I wouldn't complicate things anymore than necessary.