Property proceedings between parties under the Family Law Act 1975 (Cth) can become more complicated if third parties become involved. This is common in Family Law property proceedings where the property in dispute between spouse parties involves monies advanced from family wealth held in trusts or corporate entities or where a business involves not only interests of a former spouse but also other third-party officeholders.
There may be disagreements over the property available to divide between parties to a marriage or de facto relationship, such as whether advances made by third parties during a relationship are gifts or loans. If money was advanced to benefit a separated couple, then having documents or statements showing the source of the funds and how those funds were applied becomes extremely important.
Some examples of third parties that may seek to join the family law property dispute are:
- the parties’ parents
- their adult children
- their spouses/de facto partners
- Corporations
- Trustees and Creditors
- Business Partners
- Guarantors
- Executors
- Bankruptcy Trustees
- Commissioner of Taxation
When choosing the right lawyer to act for you, make sure they understand the law on equity, trusts and corporate structures so you don’t overlook the opportunity of securing your interest. In some circumstances you will need to intervene into court proceedings or even initiate them so be sure to get expert advice.
If you need advice on where you stand in relation to such matters, contact Owen Hodge Lawyers today 1800 770 780 or [email protected]