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 the PPP500 pilot. For your case to be considered a PPP500 case, you need to meet the following requirements:
- The net property pool (including superannuation) is, or is likely to be, $500,000 or less;
- The property pool doesn’t consist of a company, family trusts, or self-managed superannuation funds owned or in the effective control of either party that may require valuation; and
- Neither party is seeking parenting or child support orders. If parties are planning to seek parenting orders but would also like to be considered a PPP500 case, parenting applications must be filed separately with the court after the application is finalised.
A PPP500 case is commenced with the filing of an Initiating Application and a PPP500 Financial Summary form. Timely outcomes are achieved by waiving the requirement to file an Affidavit and Financial Statement until the Court directs a party to file either document or ADR is unsuccessful.
Before the first court date, preliminary orders will be made by the Registrar which requires service to be affected on the other party and response material to be filed. The Registrar will then make orders for valuations, disclosure, and other directions that are necessary and appropriate. If it is safe to do so, parties will be required to participate in an Alternative Dispute Resolution (ADR) process such as a conciliation conference, private mediation, or legal aid conferencing. At this time a balance sheet will need to be finalised between the parties.
If the matter still has not been resolved on the second court date, the Registrar will review the balance sheet and discuss with the parties and their legal representatives, the merits of their respective cases. A set of agreed facts will be transferred to a Judge by the Registrar for management. If the settlement is not reached by this phase, the matter will proceed to a less adversarial trial by consent for a decision. This process is less formal than a traditional trial.
The PPP500 pilot carries significant benefits for parties, including:
- Opportunities to participate in ADR at an early stage.
- Improved ADR outcomes through close involvement in the preparation and case management of matters.
- Elimination of unnecessary court appearances and a reduction in the number of court attendances required.
- Reduced delays in reaching a settlement.
- The parties are at liberty to seek a final consent order at any time.
If you have separated and believe the PPP500 pilot may apply to you, or you are considering separation and require family law advice, please contact the Brisbane Family lawyers team at James Noble Law today for a free, no-obligation 20-minute consultation.
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