Property Mediation
The majority of married or de facto couples acquire assets and liabilities during their relationship. When these relationships end, conflicts over who gets what can cause significant tension. Property mediation is an effective way to resolve these disputes, helping both parties reach a property settlement agreement that outlines how assets and liabilities will be distributed.
Understanding Property Mediation
In Family Law, property refers to everything you and your partner acquired during your relationship, including both assets and liabilities (debts). Property mediation involves a neutral third party, a property mediator, who facilitates discussions between the separating parties. The goal is to reach a mutually agreeable settlement without the need for lengthy and costly court battles.
Life Mediation offers property mediation services online or in person for clients located in Perth, Australia. Property mediation is a specialised process, and our experienced mediators are here to guide you through it. We understand that each situation is unique, and we’re committed to helping you achieve a fair and equitable resolution through property settlement mediation.
The Property Mediation Process
1. Fill Out a Form, call or email our office to make an appointment:
To begin the property mediation process, you can fill out a short online form or call the office on (08) 6219 3679 or email us to make an appointment for your intake session. This form provides us with the necessary information about your situation and the issues that need to be addressed. It also helps us determine if property mediation is the right solution for you.
2. Initial Consultation:
During your private intake session, we’ll go over your assets and liabilities, you can tell us your full story, the mediator can identify any missing information, and see if you might need legal advice or any other advice before moving forward. This helps us understand your concerns and guide you through the property mediation process in the best way possible.
3. Mediation Sessions:
During the property mediation sessions, the mediator will work with both parties to explore different options for dividing assets and liabilities. These sessions can be conducted online or in person, depending on your preference and location. The mediator’s role is to facilitate constructive discussions, helping you and the other party negotiate a settlement that is fair and acceptable to both sides.
4. Reaching an Agreement:
Once both parties agree on how the property will be divided, the mediator will help draft a property settlement agreement. This document outlines the terms of the settlement, including how assets and liabilities will be distributed.
5. Legal Binding of the Agreement:
A property settlement agreement becomes legally binding when it is lodged with the Family Court. Your mediator will advise you on the steps to take to ensure that your agreement is formalised and recognised by the court. This provides both parties with legal protection and ensures that the terms of the settlement are enforceable.
What Does Property Include in Property Mediation?
In property mediation, “property” covers everything you and your partner acquired during your relationship. This includes not only physical assets but also financial assets and liabilities. Some common examples of property that might be discussed during property settlement mediation include:
- Real Estate: This includes the family home, investment properties, and any other real estate owned by either party.
- Vehicles: Cars, motorcycles, boats, and any other vehicles.
- Bank Accounts: Joint and individual bank accounts, including savings and checking accounts.
- Investments: Stocks, bonds, mutual funds, and other investment accounts.
Furniture and other valuables that are - Superannuation: Retirement savings and pensions accumulated during the relationship.
- Shares: Any shares or equity in businesses or other ventures.
- Businesses: the value of a business and what will happen to the business is often discussed in property mediation.
The Benefits of Property Mediation
Property mediation offers several benefits compared to going through the court system. It is typically faster, less expensive, and less stressful. By engaging in property mediation, you can resolve disputes more amicably, preserving relationships and avoiding the adversarial nature of court proceedings.
Key Benefits Include:
- Cost-Effective: Property mediation is usually less expensive than litigation, saving both parties time and money.
- Confidentiality: Mediation is a private process, meaning the details of your settlement remain confidential.
- Control Over the Outcome: Unlike court decisions, which are made by a judge, property mediation allows you and the other party to have a direct say in the outcome. You control the decisions about how your property is divided.
- Flexibility: The mediation process is flexible and can be scheduled at times that are convenient for both parties. Online property mediation also offers the convenience of participating from your own home.
When do you need a Property Settlement Mediation?
Anyone who needs to divide property assets and cannot reach an agreement should consider property settlement mediation. Property dispute mediation is suitable for couples who are separating or divorcing, regardless of whether the divorce has been finalised. You can apply for a property settlement agreement at any time after separation occurs, and it can provide a clear, legally binding framework for the division of assets and liabilities.
Money is one of the main causes of conflict and when you are also parenting together this can hang over both your heads and also impact your co-parenting relationship in a negative way. From experience we know that most people feel a sense of relief when they both know what their future looks like financially and are able to start planning their future. Often it means that there is less conflict now this part of the separation is settled.
By choosing property mediation, you can achieve a settlement without the stress and expense of going to court. Life Mediation’s experienced property mediators are here to guide you through the process, whether online or in person, ensuring that your property settlement is handled with care and professionalism.
If you’re ready to begin the property mediation process or want to learn more about how it works, please contact us or fill out our online application form.
What Our Clients Say
Discover how families who have worked with Lisanne have found a way to move forward, been provided the support they needed, and were able to find a solution that works for everyone involved.
Please note that the names of our clients have been changed to protect their privacy.
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