It is important for your property agreement to be formalised into a legally binding settlement so that you are protected from the possibility of your former spouse making a further claim against your property in the future.
The only way that a family law property settlement can be made legally binding is for the parties to either:
- Agree to Orders from the Family Court setting out the terms of the settlement; or
- Enter into a Binding Financial Agreement.
Each of these options has their own advantages and disadvantages. Mackinnon Jacobs Lawyers can advise in relation to which document best suits your needs and tailor an agreement to your situation.