What is a property settlement? In basic terms, a property settlement determines how much you and your spouse will receive after all of the assets, liabilities and superannuation are identified. The property, assets and superannuation are jointly referred to as the property pool, which is what will eventually be divided and distributed between the parties. Common misconceptions It is a common misconception that both parties to a property settlement will receive a 50/50 split of the property pool. It is...
Priority Property Pool As a way of reducing lengthy delays, the Federal Circuit Court and Family Court of Australia developed the Priority Property Pool 500 List ( PPP500 ). This list deals with matters where the property pool is less than $500,000. The aim of the PPP500 pilot is to improve the responsiveness of the family court system and minimize risk and legal costs for vulnerable parties. At James Noble Law, we have achieved just, efficient and timely resolutions using...
