If your relationship ends, property may be divided between you and your partner by:
Even if you are able to reach an agreement about property without going to court, it’s a good idea to get legal help before you start negotiating, and again before you sign an agreement.
Who this applies to
What can be divided
- real estate, including the family home
- insurance policies
- any other assets, such as cars, furniture or jewellery
- debts, such as mortgages, loans, credit cards and personal debts.
All items may be considered in the property settlement. It does not matter:
- whose name is on the documents
- who bought an item
- who made the debt.
You should arrange valuations of all the assets of the marriage or relationship.
The family home
You do not lose your right to a share of the home or other property if you leave the home.
If one person gets the home by agreement or , the other person will still have a right to a fair share of the assets. This may mean that the person who stays in the home buys the other’s share of the home or re-finances the mortgage into their sole name.
You may have a right to a share of the home even if it is in a third person’s name.
As part of a property settlement, superannuation can be split so that part of the superannuation entitlements go to the other person when the policy is paid out. Superannuation can be a large asset in the division of property. The law is complicated. .
Disclaimer: The material in this print-out relates to the law as it applies in the state of Victoria. It is intended as a general guide only. Readers should not act on the basis of any material in this print-out without getting legal advice about their own particular situations. Victoria Legal Aid disclaims any liability howsoever caused to any person in respect of any action taken in reliance on the contents of the publication.
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Reviewed 03 August 2022