Why is my Ex Delaying Settlement?
The most common reasons for delayed property settlement can include disagreement over the division of assets, trying to increase bargaining positions, and the need to establish valuations for various assets.
When going through a divorce, one of the most stressful and complicated parts is divvying up the assets.
Dissolving a marriage is complex and the property settlement is the last process to be negotiated and agreed upon.
Unfortunately, sometimes the process of settling disputed assets can be drawn out, so why is your ex delaying property settlement?
In Australia, the law requires both parties to try and negotiate and settle their assets and it's not uncommon for one party to start the settlement process but then be slow or resistant to reaching a resolution.
Here are a few reasons why your ex might be delaying the settlement and how you can take steps to move it forward.
Quick Summary
- Common reasons for delayed property settlement can include disagreement over the division of assets, bargaining positions, and the need to establish valuations.
- In Australia, the law requires both parties to provide full financial disclosure to one another.
- To avoid delays, it's important to have a good understanding of how assets are divided in a property settlement to reach a resolution
- If the delay in settlement is too long, you should consider going to the Family Court to expedite the process.
Why is my ex delaying settlement? Bargaining Power
It's not uncommon for one party to have a stronger or more advantageous bargaining position when negotiating the division of assets.
This can be caused by a disparity in financial resources, access to legal advice, or a strong bargaining position.
In these situations, it's important to seek the advice of a good family lawyer who can get you access to funds immediately and put pressure on the other party to settle the matter quickly.
Establish Valuations
One of the key aspects of the division of assets is establishing the value of each asset.
This can involve extensive research and specialist advice, and unfortunately, this can lead to delays while the value of each asset is established.
It's important to ensure both parties agree to the valuations of all the assets to arrive at a fair and equitable division of assets.
Conclusion
As you can see, there are a few different reasons why your ex might be delaying settlement.
In order to avoid delay and to achieve a fair outcome, it's important to have a good understanding of the division of assets and to have the means to reach a resolution.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
