Financial agreements before de facto

Family Law Act 1975: Section 90UB

Financial agreements before de facto relationship

             (1)  If:

                   (a)  people who are contemplating entering into a de facto relationship with each other                                make a written agreement with respect to any of the matters mentioned in                                              subsection (2) in the event of the breakdown of the de facto relationship; and

                   (b)  at the time of the making of the agreement, the people are not the spouse parties to                              any other Part VIIIAB financial agreement that is binding on them with respect to any                            of those matters; and

                   (c)  the agreement is expressed to be made under this section;

                         the agreement is a Part VIIIAB financial agreement . The people may make the                                    Part VIIIAB financial agreement with one or more other people.

             (2)  The matters referred to in paragraph (1)(a) are the following:

                    (a)  how all or any of the:

                          (i)  property; or

                          (ii)  financial resources;

                          of either or both of the spouse parties at the time when the agreement is made, or at a                           later time and during the de facto relationship, is to be distributed;

                    (b)  the maintenance of either of the spouse parties.

             (3)   A Part VIIIAB financial agreement made as mentioned in subsection (1) may also contain                     matters incidental or ancillary to those mentioned in subsection (2).

             (4)  A Part VIIIAB financial agreement (the new agreement ) made as mentioned in                                     subsection (1) may terminate a previous Part VIIIAB financial agreement (however made)                     if all of the parties to the previous agreement are parties to the new agreement.

Please call AussieLegal on 1300 728 200 for more information on Binding Financial Agreements under Australian lawfor a fixed price of $1,875.00 including legal advice and certification from 2 independent family law solicitors.