If you and your ex-partner agree on how to divide your property, you have a few options to help you. Some involve legal processes.
This information applies if you were married or in a de facto relationship, no matter your gender or sexuality.
We understand that these issues can be stressful. If you need support or legal advice, go to Other support for relationships.
If you agree on how to divide property
If your relationship or marriage ends, you and your ex-partner will need to decide how to divide your property. This is called a property settlement.
If you and your ex-partner agree, you can:
- apply for a consent order in the Federal Circuit and Family Court of Australia
- make a financial agreement
- make an informal agreement.
Property includes assets (things you own) and debts (things you owe money on). To learn more about what property can be divided, go to Dividing your property.
When figuring out how to divide your property, you and your ex-partner should share financial details. This can include:
- bank statements
- superannuation statements
- loan details
- the value of property, such as cars and houses.
This is called financial disclosure. It is a legal requirement.
Tip: You can use the free online tool amica to help work out how to divide your property. It suggests what could be fair based on your situation. For a fee, it can prepare documents for you to ask the court to approve as a consent order.
Consent orders
A consent order is an agreement between you and your ex-partner. The court approves it, and then it turns into a court order.
You and your ex-partner can write the proposed court orders yourselves, or you can ask a lawyer to prepare them.
It is very difficult to change a final property consent order. This can give both you and your ex-partner certainty about your agreement.
To apply for a consent order, go to Application for consent orders on the Federal Circuit and Family Court website.
Financial agreements
A financial agreement (or binding financial agreement) is a written document that explains how your property will be divided.
You can make one before, during or after a relationship. It does not need court approval.
Both you and your ex-partner must have your own lawyers to complete a financial agreement.
Financial agreements can cover:
- how your property is divided
- ongoing financial (spousal) maintenance.
For a financial agreement to be legally binding:
- both people must sign it
- each person should get independent legal advice before signing.
Your lawyer must give you a signed statement confirming they provided this advice.
If you have a financial agreement, you can divide your property according to the agreement. You do not need to go to court.
Tip: Before hiring a private lawyer, visit the Victorian Legal Services Board + Commissioner’s video and fact sheet about legal costs, Six questions to ask about legal costs.
Changing or cancelling financial agreements
To change or end a financial agreement, both you and your ex-partner must:
- get legal advice again
- sign a new written agreement (called a termination agreement).
Financial agreements are legally binding unless you can prove that:
- there was fraud (dishonesty)
- the agreement is not practical
- the agreement did not follow the formal requirements under the Family Law Act
- there has been a major and unexpected change affecting your child or children
- one person acted in an unfair way
- one person did not follow the agreement
- property covered by the agreement was taken by the government because of criminal activity.
Informal agreements
An informal agreement can be written or spoken between you and your ex-partner. There are no legal processes involved.
These agreements are not legally binding. This means you or your ex-partner can later ask for a new property settlement or financial maintenance. Because of this risk, informal agreements are generally not recommended.
Explore our publications and resources
Explore our related pages
- Dividing your property
- Going to court to divide property
- Divorce, separation and marriage annulment
- Protecting property until settlement
- Other support for relationships
Support from other organisations
- Family Relationships Online provides information and help with relationship and separation issues, including money and property.
- National Debt Helpline provides free advice and referrals to financial counsellors.
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