Family Law
Property Division on Divorce: What Happens to Marital Assets?
Acquired assets, contributions and personal property under section 26 of the Family Law.
There is no automatic equal split
Without agreement, section 26 requires an equitable assessment of acquired assets and relevant liabilities. Income, needs, living standards and contributions including homemaking and childcare matter. A party’s allocation cannot exceed two thirds of the total value subject to division.
Registration is not the only consideration
Title in one spouse’s name does not alone resolve division. Premarital assets, inheritance, gifts, their income and substituted assets require separate classification. Document acquisition dates, financing and debts under the statutory definitions.
Prepare complete disclosure
Gather title, account, shareholding, vehicle and loan records. Statutory rules on earlier disposals and transfers during proceedings may be relevant. Observe any legal or court restrictions on disposal or encumbrance.
This publication is for general information and does not constitute legal advice on a particular matter. Legislation and case law may change. Seek legal assistance promptly, especially where a court or application deadline may apply.