International Property Matters
Common Issues Arising when Assets are Located Overseas
Unfortunately, when assets are located overseas, it can be easier for one party to hide them from the settlement process. At Koffels we have the commercial experience to ensure that your former partner’s assets, even when located in another country, are picked up as a part of the joint asset pool.
Australian courts have the power to make property orders regarding overseas assets. However, it can be difficult to enforce property orders which involve property overseas. This can be complex and differs depending on circumstances, and may involve the cooperation of an overseas court.
The tax consequences of a transfer of assets overseas are also important to look at, which may require financial advice.
If you have any financial agreements (for example, a pre-nuptial agreement) which you made overseas, you can inform the Court that it exists but it will not be enforceable in Australia.
In some cases, it may be more favourable for you to apply in an overseas jurisdiction to deal with the assets in your relationship, if possible. When there are superannuation fund located overseas, you will need an order from the overseas Court to enforce the Australian Order.
Why Koffels Can Help with your International Property Matter
Our firm has a special relationship with international family law firms. We are a member of Lawyers Associated Worldwide and IR Global, which allows us to build international connections and meet trusted firms overseas.
We are able to utilise these connections to assist you with your international property matter. This is particularly relevant where property is located overseas, requiring enforcement in that country. We can work with lawyers overseas to ensure you can access the property that you are entitled to.
We recognise that the economy is globalised and that many people own assets overseas. Whether you own property in another country, or you wish to enforce a property order overseas, Koffels can assist with our international connections.