In determining a property settlement application (whether concerning a married couple or a de-facto couple), the Court will consider the following:
Value assets and liabilities of the parties.
- Assess the contributions made by each party including financial contributions, non-financial contributions and contributions as homemaker and parent.
- Consider a range of factors set out in section 75(2) of the Family Law Act or section 205ZD(3) of the Family Court Act.
- Determine whether the resulting division is just and equitable.
The Court has discretion to make a range of Orders to give effect to a property settlement. These orders include the following:
- order the payment of a lump sum property settlement, whether in one amount or by installments.
- order payments of a weekly, monthly, yearly or some other periodic sum.
- order that a transfer or settlement of property be made.
appoint or remove trustees from entities in which the parties have an interest.
- order that payments be made directly to a party, to a trustee to be appointed or into court or to a public authority for the benefit of a party.
- impose terms and conditions.
- make an order by consent.