Property Settlement Time Limits
A property settlement can happen any time following a separation, however be aware that time limits do apply.
If you were married, there is no time limit for the property settlement, until you are divorced. Once you are divorced, then you only have 12 months to apply to the Court.
If you were in a de facto relationship, you only have 2 years from the date that you separate to bring any application for Court Orders.
These are firm timeframes, and you can lose your rights if you miss these deadlines.
Experience has shown us that in most circumstances early action is simpler and less expensive. There is no such thing as “too soon” with a property settlement.
Things often become more complicated over time, as you and your former spouse will make more changes in your lives, including potentially entering new relationships, making new purchases and changing employment arrangements. The dynamics of new relationships can make negotiations more difficult and memories of important financial details fade.