When it comes to property settlement, Put simply, the division of assets when a relationship breaks down, enabling both parties to sever financial and material ties with one another so they can better move on with their lives, requires a property settlement. A property settlement will also include the distribution of liabilities, such as unpaid loans and credit card debt.
Some confuse a property settlement with who gets the house, but there’s more to it than that.
Let’s take a look at a few key points to keep in mind during the property settlement process.
#1 – Understand the Process
#2 – Don’t Wait for the Divorce To Be Finalised
#3 – Try and Be Reasonable Throughout the Process
#4 – Formalise the Property Settlements
When you discuss the process with your legal representative, together you’ll be able to determine which way is best for your circumstances.