If you have divorced from your husband/wife/partner, property settlement must occur within 12 months of the divorce going through. If you were in a de-facto relationship with your partner, the same settlement must occur two years after separation.
You do not have to wait for any period after you have separated to start the property settlement process through family law. If an agreement is reached promptly, you can finalise your settlement via an Application for Consent Orders, or a Binding Financial Agreement.
Failure to reach agreement of the property settlement within the 12 months for divorce or two years for de-facto can result in the need for a court application. If the process is delayed further, you risk losing the right to claim for property settlement or spousal maintenance.
If this information has raised any concerns, reach out to Boylan Lawyers for advice on how to proceed going forward. We can guide you through the next steps and help ascertain whether you need to go to family court.