What should you do if your ex is delaying your property settlement?

After separating, it is important to end financial ties with your ex-partner by formalising a property settlement, which will divide your assets and liabilities. Usually, it is best that this occurs soon as possible after separation. This draws a line in the sand and allows you to protect your assets into the future.

Why do property settlement delays happen?

It is common for one party to attempt to delay a property settlement post-separation. Often this is driven by emotional issues surrounding the end of the relationship, a misunderstanding of legal requirements, an attempt to achieve a more favourable outcome in the property settlement, or, to remain in control of assets, such as the family home.

It is also often incorrectly assumed that a property settlement cannot occur until after a divorce. However, property division can and should happen much closer to the date of separation to avoid complications associated with debts or assets acquired post separation.

In some cases, parties may intentionally delay the property settlement process by withholding relevant information that should be disclosed in a timely manner or refusing to attend mediation or engage in negotiations. Refusing to respond to correspondence is also a common tactic used to stall progress.

Timely action in property settlements helps protect your assets and avoids future complications. Obtaining legal advice early can help expedite the process.

Consequences of delaying property settlement

Delays to a property settlement can have the following implications:

• Increased financial risk: your future earnings or newly acquired assets may become part of the settlement, as well as any post-separation debts accrued by your ex.
• Higher legal costs: Prolonged delays increase legal fees and the complexity of the process.

Time Limits for Property Settlements

Importantly, there are strict deadlines for initiating a property settlement after a divorce or de facto separation. If the time limits are missed, you may still be able to pursue a settlement, but it is important to seek legal advice as soon as possible.

How to move forward

If your ex is delaying your property settlement, the best thing to do is consult with a family lawyer, who may help by:

• requesting full disclosure of assets in a timely manner;
• proposing mediation;
• commencing court proceedings if necessary;
• issue subpoenas or engage a forensic account to uncover hidden assets (if required).

Delaying a property settlement can complicate finances, increase legal costs and leave assets vulnerable. If you require assistance with a property settlement, reach out to our Team of Sutherland Shire Family Lawyers today on 8525 2700; click here to request an appointment, or click on the Book Now button below.

Our experienced team of Family Law Solicitors include Riccarda Stock, Nicole Quirk, Shweta Kumar, and Nikita Ward.

For more information on delays with property settlements please click on the following link to view our video on the topic.

Please note the information in this article was true and correct at the time of writing.