b'PROPERTY & ASSETSWHAT IS A PROPERTY SETTLEMENT? A property settlement is a decision about how your property and assets will be divided. There are many factors to be taken into consideration whenreachingagreementabouthowthe property and assets are divided. It is important to seek legal advice about understanding your rights and obligations before reaching a formal agreement.DOES IT MATTER IF WE WERE NOT MARRIED? If you were in a de facto relationship and there are joint assets of the relationship, you can both agree to a property settlement. From the date of separation, you will have 2 years to finalise your property settlement. If 2 years have passed and you have not had a property settlement you may apply for leave of the court (permission to have a property settlement out of time).WHAT HAPPENS IF WE AGREE? It is important to get legal advice and ensure you understandyourrightsandobligationsbefore signing any agreement. There are only 2 ways in which you can finalise your property settlement and make it legally binding. That is through a Binding Financial Agreement or an Application forConsentOrders.Speaktoourexperienced family lawyers about what option may be best for you.6'