Family Law Property Division
Property Settlement
By Ryan Lasaki, Principal Solicitor at Caspian Legal (Hornsby)
June 2026
Last updated: June 2026
If you have separated from your spouse or de facto partner, property settlement in NSW is not automatically 50/50.
The outcome depends on the overall financial position, what each person contributed, their current and future circumstances, and whether the result is fair in the circumstances.
Property settlement refers to the process of dividing assets, debts and superannuation after separation. This can include the family home, savings, business interests, loans and retirement funds.
If you are separating in Hornsby or nearby suburbs, it is important to get advice before signing documents, transferring assets, refinancing, or agreeing to a settlement.
Caspian Legal assists clients in Hornsby and surrounding Upper North Shore suburbs, including Waitara, Asquith, Wahroonga, Thornleigh, Pennant Hills, Normanhurst and Berowra.
Is property settlement always 50/50?
No.
There is no automatic equal division. The outcome depends on the circumstances of the relationship and the financial position of both parties.
In practical terms, the following issues are usually considered:
| Issue | What it means in simple terms |
|---|---|
| Property pool | All assets, debts and superannuation |
| Contributions | What each person brought in and contributed |
| Current and future circumstances | Income, health, care of children and financial position |
| Fairness | Whether the final result is fair overall |
In some matters, equal division may be appropriate. In others, one party may receive more.
What property is included after separation?
Property settlement looks at the overall financial position of both parties.
| Type of property | Examples |
|---|---|
| Real estate | Family home, investment property, land |
| Bank accounts | Savings, offset accounts, joint and personal accounts |
| Superannuation | Superannuation interests of either party |
| Business interests | Companies, partnerships, sole trader businesses |
| Investments | Shares, managed funds, cryptocurrency |
| Personal assets | Vehicles, jewellery, artwork |
| Debts | Mortgage, loans, tax debts, credit cards |
| Overseas assets | Property, accounts or business interests overseas |
Property may still be relevant even if it is in only one person’s name.
How does property settlement work?
The process is usually approached in a structured way:
| Step | Question | Simple explanation |
|---|---|---|
| 1 | Should property be adjusted? | Whether it is appropriate to change property ownership |
| 2 | What is the property pool? | Identify and value assets, liabilities and superannuation |
| 3 | What were the contributions? | Financial and non-financial contributions |
| 4 | What are the current and future circumstances? | Income, health, care of children and other factors |
| 5 | Is the outcome fair? | Final check |
Every matter is different, and outcomes vary depending on the facts.
What contributions are considered?
Contributions are not limited to income.
| Type of contribution | Examples |
|---|---|
| Financial | Income, savings, mortgage payments |
| Non-financial | Renovations, unpaid work in a business |
| Homemaker | Household management |
| Parenting | Caring for children and daily responsibilities |
| Gifts or inheritances | Financial support from family |
| Business contributions | Building or supporting a business |
A person who stayed home to care for children may still have made significant contributions.
Can future circumstances affect the result?
Yes.
| Factor | Why it matters |
|---|---|
| Care of children | May increase living expenses |
| Income difference | One party may earn less |
| Age or health | May affect ability to work |
| Housing needs | One party may need more support |
| Financial resources | Access to future income |
These factors may result in one party receiving a greater share.
Is superannuation included?
Yes.
Superannuation is often one of the largest assets in a property settlement. It may be retained, split, or adjusted against other assets.
A split usually transfers value into another superannuation account rather than being paid as cash.
Can property settlement be resolved without going to court?
Yes, in many cases.
| Option | When it may be suitable |
|---|---|
| Negotiation | Both parties are willing to reach agreement |
| Mediation | Assistance from a neutral third party |
| Consent orders | Agreement is formalised and legally binding |
| Financial agreement | Private binding agreement |
| Court | Where agreement is not possible |
Many matters are resolved without a final court hearing.
Why is financial disclosure important?
Each party is required to provide information about their financial position.
This may include:
- tax returns
- payslips
- bank statements
- superannuation statements
- mortgage and loan documents
- business records
Failing to properly disclose financial information can affect the outcome of the matter.
What documents should you prepare?
Before your first consultation, it is useful to gather:
| Document | Why it helps |
|---|---|
| Date of separation | Important for timing and strategy |
| Property details | Identifies assets and liabilities |
| Bank statements | Shows financial position |
| Superannuation statements | Identifies retirement assets |
| Tax returns and payslips | Shows income |
| Loan documents | Identifies debts |
| Business records | Relevant if applicable |
| Any previous agreement | Includes consent orders or financial agreements |
A lawyer can assist if documents are missing.
Are there time limits?
Yes.
| Relationship type | General time limit |
|---|---|
| Married couples | Usually within 12 months after divorce |
| De facto couples | Usually within 2 years after separation |
If the time limit has passed, court permission may be required.
Common mistakes
| Mistake | Why it is a problem |
|---|---|
| Assuming 50/50 | Incorrect expectations |
| Ignoring superannuation | Missing a major asset |
| Relying on verbal agreements | Not legally binding |
| Delaying action | Time limit issues |
| Signing documents without advice | Loss of legal rights |
What not to do
- Do not hide assets
- Do not transfer property without advice
- Do not empty joint accounts without advice
- Do not assume property in your name is automatically yours
- Do not sign agreements without understanding them
- Do not ignore time limits
What happens in a consultation?
A consultation usually involves reviewing your situation, identifying key assets and debts, discussing time limits, and outlining the available options and next steps.
How Caspian Legal can assist
Caspian Legal assists with property settlement matters, including:
- advice after separation
- identifying the likely property pool
- reviewing financial disclosure
- negotiating settlement
- preparing consent orders
- advising on financial agreements
Caspian Legal is based at Level 1, 22–28 Edgeworth David Avenue, Hornsby NSW 2077.
Frequently asked questions
Is property settlement always 50/50?
No. The outcome depends on contributions, financial position and future circumstances.
Do I need to be divorced first?
No. Property settlement can usually be addressed after separation.
Can we agree without going to court?
Yes, but it is important to formalise the agreement properly.
Is superannuation included?
Yes, it may form part of the overall property pool.
When should I get legal advice?
Before signing agreements, transferring assets or making major financial decisions.
Speak with a family lawyer in Hornsby
Property settlement can affect your home, savings, debts and financial future.
If you have separated, it is important to understand your position before taking the next step.
Disclaimer
This article provides general information only and is not legal advice. Outcomes depend on the circumstances of each case.
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