Formalising your Property Settlement Agreement
Reaching an agreement is often the most difficult part of the negotiation process so you should feel like this is the downward slope from herein.
At Best Wilson Buckley we believe that formalising that Agreement, and making it binding, should be the easy bit. We are able to prepare that Agreement or Application for Consent Order quickly at the highest quality for a fixed fee, and then give legal effect to the Agreement through the transfer of various assets, again at a fixed fee.
Finality and Protection.
Once ratified or formalised, the Agreement is binding upon both you. This means that even if your circumstances change in the future, there is no further claim against each other. You can both move forward with clarity and on your own two feet. Where you’re involved in a family business, trust or company, this is particularly important.
It is only with a proper Order or Binding Financial Agreement that you will be eligible and receive a transfer duty exemption on the transfer of real property, or effectively transfer superannuation.
To meet the needs of your Bank and/or Accountant.
In order to reassign mortgage debt, and release the party not retaining a property, your bank will require an Order or Binding Financial Agreement. In many instances, in order to extract you from a family company or trust your accountant will also want to know that the assignment of various rights and interests has been undertaken according to law.
- One of our team will contact you to confirm the nature of the Agreement reached and empower you to collect and provide the details we will need to complete documentation.
- Upon receipt of information, we will confirm our fee which is relative to the complexity of the Agreement and work to be done, and you and your partner are asked to equally contribute to that fee which is then held in Trust until our work is finalised.
- A draft of your Agreement, or Application for Consent Order will be provided to each of you, potentially with a request for some limited further information and we liaise with both of you to finalise that Agreement.
- We are then in a position to provide legal advice to one of you as required at law, and work with a panel of experienced practitioners whom, if necessary, will provide the required legal advices to the other party again at a fixed fee.
- Both of you will then execute your Application or Agreement, and we can thereafter transfer property or other assets, or effect the split of superannuation, again all at a fixed fee for you both.
The depth of our team means that we can start work today, and in some instances have signed off on an agreement within 14 days. We work predominantly by telephone, email and video conference with clientele throughout Australia and overseas and accordingly geography is no restriction.
We believe in being up front. If you have multiple company or trust entities then it might take us a little bit longer to ensure that your Agreement is of the high standard we pride ourselves on. We’ll afford you this understanding up front and on a fixed fee basis. If it’s a complex Order or Agreement, we also might want to ensure your Accountant is happy with the structure of the Agreement which might lead to some minor delay. If superannuation is split, your Super Trustee will need to approve our draft, so that can take a bit more time too. We’ll afford you this understanding up front and on a fixed fee basis.
Contact our Property Settlement Lawyers for legal help
Contact our team of expert property settlement lawyers today to discuss your situation.
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