You can finalise property and financial matters by negotiating an agreement with your former partner. The agreement is lodged in the court registry together with an Application for Consent Orders. No court appearances are involved.
If the court accepts that the negotiated settlement is fair and reasonable, it is approved. In due course, your Consent Orders issue from the registry bearing the court’s seal.
The Consent Orders are binding and must be adhered to by both parties. The court registry retains the original Consent Orders – so you have the security of knowing there is an official record of the settlement reached in agreement with your former partner.
Binding Financial Agreements
You may choose to finalise property and financial matters with a Binding Financial Agreement (BFA). The BFA is signed following negotiation with your former partner. Each party must first obtain independent legal advice. As with Consent Orders (see above), no court appearances are involved.
Unlike Consent Orders, the BFA is not lodged in the court registry. At no stage is the BFA checked or approved by the court. As the court has no involvement in the BFA process, the court registry has no record of the agreement. Each party simply retains a signed BFA for their own records.