Property Mediation is the process of identifying Assets, Liabilities and Contributions from the relationship and then helping ex partners to agree on how assets and debts will be distributed. We recommend that parties first seek legal advice and/or advice from a reputable financial advisor prior to attending mediation.
Some common assets and liabilities may include but are not limited to:
- Investment Properties
- Motor Vehicles (cars, motorbikes, boats, caravans, trailers)
- Businesses/Family Trusts
- Bank Accounts
- Household Contents
- Car Finances
- Personal Loans
- Credit cards
- Hire-Purchase Cards
If parties reach an agreement in mediation, the Mediator will draft the agreement into a Property Agreement.
A Property Agreement is a good-faith agreement that has been formalised into a written document. Property Agreements are not enforceable by the Family Court and rely on the good-faith and co-operation of the ex-partners to enforce them.
If ex-partners require a formal agreement they are able to apply for legally binding Consent Orders. If parties are interested in formalising their Property Agreement as a Consent Order, we strongly suggest they seek legal advice prior to signing the documents.