Divorce property settlement is one of the most commonly seen legal problems in family law. With the institute of marriage breaking up in the modern society, it often leaves a lot of pain and complications in its wake. Often, the divorcing couple will have contentions regarding common property and children. Family law usually deals with many of these issues including child support and property settlement.

There are several forms of property settlement in case of divorce. Some of these include:

Informal Property Settlement

As the name suggests, this is an informal settlement and should not be used except when the property involved is of minimal value. Though an informal Divorce and Property settlement is performed in the presence of both the parties, and with their consent, often one party would apply to the court for a proper legal settlement. However, such settlements come with time limits during which neither party can contest the settlement in the court of law. Therefore, it is best to use other types of settlement options to decide on property matters during or after the divorce. Most lawyers would not recommend this method, but if the divorce occurs amicably and the property involved is not much, this is considered an ideal method mostly because it does not involve lengthy court proceedings. It is therefore best to consult a family lawyer before you choose a method for property settlement.

Divorce Property Settlement Orders

Since most of the Family Law Melbourne cases are not amicable, this is the most commonly sought-after method of divorce property settlement. These orders can be made as an out of court settlement. In cases where both parties agree to sit together and have negotiations directly, in the presence of lawyers and mediators, property settlements can be reached amicably. The orders are drafted by the lawyers and then made by the family court or a state magistrate. Since the orders are made with the consent of each of the parties, they are often also referred to as consent orders. These orders are much better than the informal settlements because they are legal in nature, are binding and offer certainty. They also ensure that there is no chance of refinancing in case either of the parties comes into money after the settlement has already taken place.

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