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VIC Separation and Assets

Discussion in 'Family Law Forum' started by kmarto79, 15 August 2014.

  1. kmarto79

    kmarto79 Member

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    I separated from my partner almost 2 years ago ( separation). The only asset I took was the car, now valued at $8000 and the kids (custody of children). It's registered in my name. Can he legally do anything about this ( property settlement) under family law as we have not yet filed for divorce?
     
  2. Sarah J

    Sarah J Well-Known Member

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    Hi kmarto79,

    Even if the car is solely in your name, it may still be counted towards your pool of shared properties/assets. This is because money used to purchase or maintain the car may have come from shared assets or from shared efforts. In short, if you and your partner satisfy a "de facto relationship" or are married and now separated, your partner may have an interest in that car.

    A property settlement will consider:

    - How long the partnership was;
    - When the car was purchased and with what money;
    - Other properties/assets in the shared pool and how they are currently being divided;
    - Contributions by each partner to the shared pool during the partnership (and before); and
    - Future financial needs of each partner (including any children cared for from the partnership).

    The essential question is what is considered a fair division of assets having considered all of the above.

    Generally, de facto partners have 2 years from the date of separation to work out a property settlement. If you and your partner already agreed on the division of assets, I would suggest having this written down on paper and signed by both parties. You may also apply to the Family Court of Victoria for a consent order, which will turn the written agreement into an order with the same legal effect as a judgment.
     

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