Top Family Property Settlement Lawyers in Canberra
Top Family Property Settlement Lawyers in Canberra
Top Family Property Settlement Lawyers in Canberra
* Expert Property Settlement Lawyers
* Efficient Property Settlement Solutions
* Trusted Legal Assistance for Property Settlements
* Comprehensive Property Settlement Services
Asset Transfer During Marriage: How to Protect Your Assets
Asset transfer during marriage is a topic that many people are concerned about. In Australia, while individuals have full control over their assets during marriage, these assets may be considered joint property and subject to division if the relationship breaks down. Understanding the relevant legal rules is essential for better protecting your rights.
Can Assets Be Transferred During Marriage?
Under Australian law, during a marriage, each spouse has full control over the assets in their name. You are free to transfer, gift, or lend assets without needing your spouse’s consent. However, once the relationship ends, the legal concept of marital assets is activated, and all assets may be considered joint property, subject to division.
How Are Transferred Assets Handled After a Relationship Breaks Down?
If the relationship breaks down, any asset transfers that occurred during the marriage could be considered in the property settlement process. The court will evaluate the true purpose of the transfer and whether it was a normal expenditure.
Consulting a professional lawyer as soon as possible will help you effectively manage the issue of asset transfers and protect your interests.
If you know where the assets are, you may be able to apply for a court order to freeze or recover them, bringing them back into the property pool for division.
Even if the whereabouts of transferred assets are unknown, the value of those assets will still be included in the division. For example:
- One party transfers $200,000 without consent, leaving a remaining property pool of $800,000.
- If the court orders a 50:50 split, the transferring party’s final share will be reduced by the $200,000.
Caveat and PPSR: Protecting Your Assets
In special circumstances, there are legal tools that can prevent assets from being transferred without your knowledge:
Caveat (Real Property Interest Warning)：
You can register a Caveat to prevent real estate from being sold or mortgaged without your consent.
PPSR (Personal Property Securities Register):
By registering an interest in personal property through the PPSR, you ensure that your assets aren't transferred without your awareness.
Final Thoughts
Asset transfer during marriage involves complex legal issues, and if not handled properly, it can affect the division of property. Understanding the relevant legal rules, taking timely action, and seeking professional legal advice when necessary are crucial to protecting your assets. For further details on how to safeguard your property, please refer to our comprehensive Asset Protection Guide.
If you need more information or legal advice, feel free to book a free consultation with one of our lawyers. We offer personalised support to help you navigate property-related matters with care and expertise.
Book in a consultation with us today
Our team will give you expert advice that has been specifically tailored to your case.
Our Service
We take a thorough and thoughtful approach to ensure that every client clearly understands the process. Regardless of whether the situation is simple or complex, we are dedicated to providing support and helping plan for the future. Our philosophy is to offer the most cost-effective and simplified solution to what would otherwise be complex and costly challenges.
Legal advice on marriage and de facto relationships
Legal procedures for separation and divorce application
Property distribution for pre and post marriage
Property settlement and protection
Preventing the transfer of marital property and solutions
Effective Protection of Property Rights with Freezing Orders
Negotiation and resolution of spousal maintenance disputes
Arrangements for child custody and visitation rights
Why Choose Us
Our experienced lawyers provide expert advice and representation to ensure a fair and smooth process.
Our skilled team offers efficient solutions and tailored strategies to protect your interests.
Ensure a fair property settlement with our trusted lawyers. We handle all aspects of the process with dedication and expertise.
From negotiation to final settlement, our comprehensive legal services cover every step of the property settlement process.
About Brightstone Legal
