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What Happens to Home Loans, Mortgages, and Properties After Divorce?
One of the biggest concerns of parties whose marriage has broken down is what happens to financial settlement resources and debt during this process. When it comes to matrimonial assets, one of the main considerations is whether the party who resides in the main property has the capacity to maintain the residence during interim and final proceedings.
Many know that the family law courts are overflowing with matters and many of those matters relate to family violence and abuse, neglect, or harm coming to children.
Some may not know that the majority of all family law matters that go to Court start off in the Federal Circuit Court. This Court (originally named The Federal Magistrates Court) was formed in 1999 to deal with less complex cases and take the burden off the Family Court at the time. Whilst this has occurred, now the Federal Circuit Court of Australia is experiencing the same problems.
Divorce can be a very difficult time in both parties’ lives. But here you can find a better solution for Online Divorce Application. Sometimes after the breakdown of a marriage, one party has difficulty in accepting this fact and may refuse to sign divorce papers.
Other situations might involve a controlling ex-partner or parties who believe they will get back together. For whatever reason, if the other party is refusing to sign divorce papers, you have options.
That is (sometimes) the million-dollar question. In determining what a client is worth in a property settlement, we (and the Court) utilise a 4 step process.
The 1st step is to determine the value of the net asset pool that is available for division between the parties. This includes adding up the value of all the assets (whether in one party’s name or joint names), taking away all the liabilities and then working out the net equity.
Remember, both parties’ superannuation form part of the net asset pool also.
If you commence or respond to parenting proceedings, you will be required to file a Notice of Child Abuse, Family Violence, or risk, an Application or Response will not be accepted for filing without the notice.
This document alerts the Court to possible risks to the child or children or even the parties themselves involved in the litigation. The most prevalent risks are often categorized as neglect, emotional abuse, physical abuse, exposure to family violence, mental health issues, sexual abuse, or substance issues.
Separation is one of the most significant life events a person can experience. Worry, anxiety, and stress over the uncertainty surrounding the arrangements for the children, money, and a property settlement division can be extremely difficult to cope with under challenging circumstances.
It’s therefore important that you prioritize your mental health and wellbeing during this time. Talk to your friends or family members for support. Take extended leave from work.
Arbitration Australia is a Viable Alternative to Litigation. The process that is used to submit a dispute by a party and the agreement to one or more arbitrators those who make a binding decision on the dispute. In the case of arbitration law or family law arbitration, the parties choose the process of settling personal disputes without going to court.
I was in Court recently on the first Mention date of an application by the husband seeking Orders for the division of the net matrimonial assets of his relationship with my client.
Anna has a particular interest in property settlements and is committed to assisting her clients in achieving an amicable and expeditious resolution of their matter wherever possible. Her professionalism, caring nature and down to earth approach is valued by her clients, colleagues and other professionals.
Whilst being a member of the Queensland Law Society and the Family Law Practitioner’s Association of Queensland, Anna has also been a professional mentor for undergraduate law students at Griffith University as part of the Industry Mentoring Program.
Important information and contact details about the Family Law Courts Brisbane
The Family Law Courts Brisbane’ National Enquiry Centre (NEC) is the entry point for all telephone and email inquiries about Family Law Court matters in the Family Court of Australia and the Federal Circuit Court of Australia.
About James Noble – Accredited Specialist Family Lawyer
James Noble is an Accredited Family Law Specialist with more than 40 years experience as a solicitor practicing in family law. He is a member of the Family Law Practitioner’s Association, The Queensland Law Society, The Family Law Council of Australia, Queensland Collaborative Law and the Family Law section of the Law Council of Australia, James is a Notary Public.
