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Subject:
Property Settlement in Marriage Breakdown
Category: Family and Home > Relationships Asked by: mrmagoo-ga List Price: $10.00 |
Posted:
03 May 2003 02:52 PDT
Expires: 21 May 2003 04:52 PDT Question ID: 198778 |
Following a marriage breakdown in Australia, are personal debts which are incurred by either party between the commencement of the separation period and the eventual property settlement, likely to be taken into consideration by the family court when deciding what proportion to award each party in a property settlement. Or are these debts not taken into consideration by the family court, and left exclusively to the responsible party to deal with after settlement. |
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There is no answer at this time. |
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Subject:
Re: Property Settlement in Marriage Breakdown
From: steph53-ga on 03 May 2003 08:05 PDT |
Hi mrmagoo-ga... I'm not a Google researcher but I have had lots of experience with this. I separated from my ex in November 2001. As I was the "leavee" and according to the courts, I didn't have a "valid" reason for leaving him, I lost everything. He got to keep the house, one half of my company pension and our dog. I basically owed one half of all our acquired debts from the start of the marriage until I removed my name from them shortly before leaving. My best advice to you is to seek legal counsel ASAP!!! Cease and get rid of all "shared" credit NOW. Good luck!!! Steph53-ga |
Subject:
Re: Property Settlement in Marriage Breakdown
From: knowledge_seeker-ga on 03 May 2003 12:10 PDT |
Here in Canada and in the US it has been my experience that the DATE OF SEPARATION is everything. Whatever debt you run after that date is yours. Whatever the other person runs up after that date is his/hers. Adjustment will be made towards either party who continues to pay off a previosly acquired joint debt such as a mortgage. That's the way it is suppose to work anyway. Unfortunately, here in Ontario the family court system is hopelessly broken and there are bunch of ways for the unscrupulous to take advantage of it. Get a lawyer. Close all joint credit cards today. Keep record of everything. Good luck - -K~ |
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