When going through a separation or divorce, both parties naturally need a fair property settlement to move on financially. Unfortunately, there are times when an ex wife or ex husband delaying property settlement happened for various reasons. This can cause financial and emotional strain on both parties. Understanding the common reasons for these delays and how to address them can help you navigate the property settlement process with greater ease and confidence. Here’s what you need to know about dealing with an ex-spouse who is delaying property settlement.
Causes Behind Ex Wife or Ex Husband Delaying Property Settlement
- Property settlement delays after divorce are not uncommon. If the ex wife or ex husband delaying property settlement or cannot agree on the terms, it’s possible that they may not fully understand the consequences of failing to finalize the settlement.
- Often, an ex-spouse may delay property settlement after a divorce due to personal or financial reasons. They may feel entitled to more than their legal share or harbor resentment, which can make negotiations complicated. Ex wife or ex husband delaying property settlement and failing to reach a final agreement can cause financial and emotional strain on both.
- In some cases, ex-spouses believe that delaying property settlement can bring them financial benefits. For example, if the property in question is a home, the ex wife, or ex husband delaying property settlement can make them live rent-free for a while.
- Another reason why your ex-partner might delay property settlements is if they are expecting to inherit property during the settlement timeframe and are attempting to hide it from the settlement agreement. In such circumstances, your ex may be unwilling to seek legal consultation and agree to a financial settlement.
How Does an Ex wife or Ex husband Delay Property Settlement?
1. An ex can refuse to disclose information
To finalize a property settlement both parties are bound to disclose all of their relevant information between them. If any of them do dilly-dally to give the proper information then a fair settlement offer can’t be made. This responsibility starts from the beginning of the dispute and continues until it has been finalized.
Partial disclosure of information is not acceptable. Parties should disclose all financial information between them like a source of income, assets, and liabilities like loans, debt, etc.
It is also essential that if any new information comes during the proceedings then parties are liable to update them with the court and concerned parties.
2. Intentionally missing mortgage repayments
Often, the ex-spouse is deliberately not making payments towards the mortgage on the property that is subject to the property settlement agreement. This can be done as a way to delay the settlement process or gain leverage in negotiations. The settlement proceedings can be negatively impacted by intentionally missing mortgage repayments, as most banks require proof of six months of perfect payments.
3. Not complying in attempts to fix the dispute
Your ex-partner can delay the settlement proceedings by refusing to sign necessary documents, rejecting all reasonable offers, and refusing to participate in mediation discussions.
4. No response to the attempt to contact
If a party is ignoring all attempts to contact him/her, it can make the property settlement process more difficult and may cause delays. This is because it can be difficult to negotiate and finalize the terms of the settlement agreement if one party is not willing to communicate or participate in the process.
What to Do If Ex wife or Ex Husband is Delaying Property Settlement
- First, you should contact an experienced family and divorce lawyer. They will give you legal consultation on the steps to take to complete your property settlement as soon as possible.To achieve a fair agreement, the first step is to request complete disclosure from your former partner through written communication. It can include a property settlement time limit for your ex-partner to give this disclosure and make offers.
- If your ex doesn’t willing to disclose or you have proof that he/she hiding some asset or information then you can apply to the court seeking an order for disclosure.
- If the disclosure process has already occurred and still your ex wife or ex husband delaying property settlement, you can ask a mediator to discuss the property settlement. If he/she refuses to discuss the matter with a mediator and all efforts to arbitrate end in smoke for your ex’s delay, you can submit an application to the court for a fair property settlement.
What are The Benefits of Delaying Property Settlement?
Believing in the misconception to get extra benefits an ex wife or ex husband delaying property settlement.
- If any ex-partner is aware of an asset that is likely to increase in value, they may be delaying the property settlement to receive a larger share of that asset once it has appreciated in value. This could include investments, property, or other valuable assets.
- Suppose one of the parties in a divorce owns an investment property that they expect to increase in value significantly within the next few months. If they were to settle the property division now, they may have to split the value of the property with their ex-spouse based on the current value, which could be lower than the expected future value. By delaying the property settlement, they could potentially receive a larger share of the property’s increased value when it is eventually sold.
- When an ex wife or ex husband is delaying property settlement after divorce in Australia, the accumulation of new debts by either party after separation can make the process more complicated. These debts will remain the responsibility of both parties and delaying the settlement may be beneficial in order to allow the debtor to reduce their level of debt before the assets are divided.
What are The Disadvantages of Delaying a Settlement?
Ex wife or ex husband delaying property settlement can make things more complicated, including your relationships, assets, and moving on with your life. There are several reasons why it’s generally unwise.
- Ex wife or ex husband delaying property settlement can result in larger asset pools due to the growth of savings or the acquisition of new assets, which your ex-partner would be entitled to a portion of. Conversely, running assets down in value or accumulating new debts can also impact the division of assets. Therefore, it is essential to be mindful of these factors and finalize the settlement process as soon as possible.
- It can increase the risk of your ex-partner running assets down in value or increasing debts. Finalizing the property settlement ensures that both parties’ financial ties are severed, including their debts and assets, which can prevent future financial issues or disputes.
- If the property settlement is not finalized before the unfortunate demise of your ex-partner, you could lose out on the settlement altogether. Until the divorce is finalized, your ex-spouse is still your legal spouse, and they may have a claim to your inheritance or assets, regardless of what your will says. Updating your will after separation and completing your divorce and property settlement is crucial in safeguarding your assets and inheritance for your intended beneficiaries, including your children.
Can You Get in Trouble for Delaying Settlement?
If you are ignoring your ex-partner when they are trying to reach out to finalize the property settlement proceedings after divorce, they can take multiple steps. In fact, the court can even grant an order against you for delaying the process, which may be beyond your control. To avoid this legal hassle, it is advisable to contact an experienced divorce lawyer who can guide you through the process and help you avoid any legal complications.
What is the property settlement time limit?
Common people don’t aware of the fact that time limits apply when it comes to finalizing property settlements. The time limits depend on the nature of the relationships between ex-spouses.
- For married parties, it depends on divorce. If you were married, you must complete these settlement proceedings within 12 months after your divorce became final. For a de-facto party, these settlement proceedings should be completed within 2 years from the date of their breakup.
- But if the couple is married and separated already but not divorced yet, the rules of time limits don’t apply to them. Because the time frame of property settlement will only apply to the spouses when the divorce becomes final.
- If an agreement has not been reached within the specified timeframes, you should contact an experienced family and divorce lawyer to explore your options for moving forward.
How can you extend the timeframes of property settlement?
If you need more time to settle property beyond the original timeframe set by law, you may have the opportunity to extend it by submitting an application to the court. However, specific circumstances must be met to qualify for an extension. It is better for you to contact a lawyer to get legal consultancy on extending timeframes for property settlement.
If the time is over for finalizing a property settlement, you will need to apply before the court. If the court consents, your timeframe for settlement can be extended beyond what was originally set by law.
Should Hire a Lawyer to Help in This Situation?
When going through a divorce or separation, it’s essential to seek legal advice from an experienced family lawyer who understands family law facts. With complex property and asset divisions and child custody decisions to be made, it’s best to have a specialist guide you through the process. We recommend speaking to a family lawyer before having the property settlement conversation with your ex-spouse.
If you’re going through a divorce and have questions about property settlement, contact our divorce lawyer Sydney and property settlement lawyers. Our Accredited Family Law Solicitors will help you navigate through this challenging process and get started on the path to a new beginning. Don’t wait, take action now and protect your assets and family’s future.
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