property settlement - house loan exceeds cost of house purchased
I am in the process of sorting out a property settlement in the FMC currently - the ex's lawyer sent through a letter the other day - general matters plus last of all advised that the ex has just purchased a new home valued at $760,000 and taken out a loan for $800,000 to cover house plus stamp duty etc which as far as I can see until I get some advice is that it effectively reduces the asset pool by $40000 - has anyone come across this sort of manouevre before and would anyone have any advice it - will this be accepted by the court - can I fight it - any ideas how - the money is all on the other side of the fence and my advice is limited so I would appreciate anyone who can help me with this.
It's set down for the Federal Magistrates Court - sorry for the MC abbreviation I'll use the proper FMC in future. My solicitor tells me that last minute responses are discouraged in other courts (criminal etc) - but not in family law courts . Any reason for this ? - it just seems to just allow one side to deliberately frustrate the process ?
Separated 2 years ago - numerous attempts to negotiate a property settlement with my former partner - no response at all - letter arrived from his solicitor last month - 6 weeks short of 2 years - my solicitor suggested to start proceedings as it is difficult if the proceedings are not started within the 2 year period - still havent received any response from his solicitor - hearing in the MC in 2-3 weeks - my solicitor suggests that its possible I might not receive a response until the day before the court date - is that possible ? - if it is how can I prepare properly for the court hearing ? - am I able to ask for extra time ?