Document background
The Property Settlement Agreement Not Married is a crucial legal document used in Australia when unmarried couples who have been in a de facto relationship need to formally divide their property and assets upon separation. This agreement is essential for partners who have acquired property or other substantial assets during their relationship and wish to achieve a clean break in their financial affairs. It falls under the jurisdiction of the Family Law Act 1975 (Cth) for de facto relationships and relevant state-based property legislation. The document typically includes comprehensive details about all shared assets, their agreed values, and the method of division, while also addressing any joint liabilities and financial obligations. It serves as a legally binding agreement that, once properly executed, can help prevent future disputes and provide certainty for both parties regarding their property rights and obligations.
