1 Comments Family & de facto law, financial agreements, consent orders
While we always recommend a formal legal property settlement, where there are no property or financial resources, parties often complete an informal property settlement. Your husband (as you have not divorced) can only seek a property settlement from the property or financial resources from your marriage together. Having been separated for 5 years, your husband is unlikely to have any spousal maintenance rights. Provided there are no property or financial resources from your marriage being used in your new house, your husband would not have any legal claim to it. You would still need to consider if a superannuation split would be appropriate. Once a divorce is completed, there is a 12-month statutory time limit for him to commence property settlement proceedings unless he applies for an out-of-time application. In other words, in most cases after 12 months he will have no legal right to commence property settlement proceedings. As such, it may be best to get that divorce done sooner than later. We have a special on divorces right now if you need a divorce lawyer. This information does not constitute legal advice and you should speak with a family lawyer.