QLD Termination of Binding Financial Agreements

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DaniDee

Well-Known Member
6 November 2019
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in understanding that a Binding Financial Agreement can only be terminated by a Judge, at what point in a divorce process does the Binding Financial Agreement cease/complete?

1. Divorce Order?
2. Divorce Certificate?
3. Settlement; when the BFA is addressed
 

DaniDee

Well-Known Member
6 November 2019
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Hi Dani

Are you asking when the Financial Agreement is in force?

I think so, apologies for the incorrect jargon. BFA signed >> marriage >> marriage dissolution >> divorce >> settlement >> BFA complete?
 

DaniDee

Well-Known Member
6 November 2019
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Okay, similar question asked differently. When can someone enter into another Financial Binding Agreement with a new relationship after separating from previous partner (that has a BFA as well)
 

Atticus

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6 February 2019
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Okay, similar question asked differently. When can someone enter into another Financial Binding Agreement with a new relationship after separating from previous partner (that has a BFA as well)

So I'm assuming you have a BFA with former partner that dealt with property & financial division?.... & you now want to enter into a post nuptial type BFA with a new partner. Is that about right?
 

DaniDee

Well-Known Member
6 November 2019
18
0
71
So I'm assuming you have a BFA with former partner that dealt with property & financial division?.... & you now want to enter into a post nuptial type BFA with a new partner. Is that about right?

Yes,
Separated with partner#1
We complete the divorce with hearing & judge confirms orders. BFA & Settlement yet to be addressed
Whilst await for divorce certificate, fiance#2 and I enter into a new BFA & later married
Two months later, BFA & Settlement addressed with partner#1
 

Atticus

Well-Known Member
6 February 2019
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Sorry.... I'm still struggling to understand exactly what your question is, but a BFA is 'complete' when all of it's conditions have been met. They do not deal with divorce, as in the issuing of a decree nisi, only the division of assets & finances. So if the terms of the first BFA have all been met, ie, all assets & finances have been distributed as per the terms of the agreement, then it is 'complete'... It can only ever be 'terminated' by agreement between both parties or set aside by court order IF & only if the BFA was found to not comply with legislated criteria & therefore not binding.

If the terms of the first BFA have not been met, then you can take the other party to court to basically have it's terms enforced. That ability remains for the life of the BFA.

As for the second BFA , that is a separate agreement with another party, the terms of which should have been agreed to at the time of signing & I assume would only come into affect if you separate.... Hope that helps
 
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