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Q: Property Settlement in Marriage Breakdown ( No Answer,   2 Comments )
Question  
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.
Answer  
There is no answer at this time.

Comments  
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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