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Post #33928 by mq on January 9th 2011, 6:56 PM (in topic “Property settlement”)

Property settlement:

Thanks for your answers and well wishes Rosey, and all the best in court.
I found 2 other helpful books if anyone is interested - both authored by Tom Altobelli.  "Practising Family Law 2nd Edition" which is the updated version of "Family Law theory meets practise", and "Family Law in Australia - Principles & Practice"

Does anyone have any advice on my other questions?
  • I've managed to save some money since separating, which I want to put towards a deposit for a new house. Would my post-separation savings be included as part of the asset pool?
  • I've purchased a new car since separating.  Would the new car, that was purchased from money earned since separating, be part of the asset pool?

  • I made post-separation contributions to my ex.  Is it the norm to recoup those contributions as part of settlement?  My ex has now re-partnered and is no longer dependent on my financial support.

  • Are bank statements checked if lawyers or court becomes involved and what is the impact if the ex has made strange/large withdrawals?

  • My ex's new partner has moved into our property and is bringing in an income.  Is the new partners income incorporated into my ex's financial position and does that have an impact in terms of division?

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Post #33918 by mq on January 8th 2011, 1:10 PM (in topic “Property settlement”)

Property settlement

Hi,

I have some questions regarding commencing a property settlement that I am hoping can be answered here.

I know my legal position and likely division having consulted with a local solicitor in regional Victoria, but I want to make an attempt first to avoid lawyers and court, and work it out with my ex.  At the same time I need to educate myself, work through my best approach and be one step ahead. Both the property/house circumstances and my ex provide a few challenges.
  • What is the normal way couples try to settle property without going to court?
    Does one person pick say three valuers and the other chooses one of the three?  What type of valuers are best?  How is the actual value agreed by both parties?  How does it all work?

  • How do I prevent the property from being potentially undervalued should my ex (who occupies the property) decide to present it poorly (e.g. dirty/cluttered)?

  • Is there a good website/document/book that takes you through settlements, and ideally, how to maximize the outcome?
  • Our separation was a few years ago now and the market value of the property would have appreciated in that time.  Is current market value taken or market value at the time of separation?
  • I've managed to save some money since separating, which I want to put towards a deposit for a new house.  Would my post-separation savings be included as part of the asset pool?
  • I've purchased a new car since separating.  Would the new car, that was purchased from money earned since separating, be part of the asset pool?
  • I made post-separation contributions to my ex.  Is it the norm to recoup those contributions as part of settlement?  My ex has now re-partnered and is no longer dependent on my financial support.
  • Are bank statements checked if lawyers or court becomes involved and what is the impact if the ex has made strange/large withdrawals?
  • My ex's new partner has moved into our property and is bringing in an income.  Is the new partners income incorporated into my ex's financial position and does that have an impact in terms of division?

Thank you in advance for taking the time to respond.

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