Most people imagine property settlement as a single event — sit down, divide the assets, done. In reality it is a sequence of structured steps, most of which can run faster than people expect if both parties cooperate. Here is the realistic timeline.
Day 1 to Month 3 — Initial advice and disclosure
From the date of separation, both parties have an immediate obligation to begin financial disclosure — sharing tax returns, bank statements, super statements, and any business or investment records. In a cooperative separation this can be done within a few weeks. In a less cooperative one it takes months and may require subpoenas later.
During this period each party should also get initial legal advice. The advice will identify the likely settlement range, the key issues, and any time-critical decisions (separating finances, severing joint tenancy, and updating wills and estate beneficiary nominations on super and life insurance).
Month 3 to Month 6 — Valuation and negotiation
Once disclosure is reasonably complete, the property pool can be identified and valued. Real property is usually valued by a single expert agreed between the parties. Businesses may require a forensic accountant. Superannuation interests in defined benefit funds may require expert valuation.
With a valued pool in hand, negotiation can begin. Most matters settle in writing through correspondence between the parties' lawyers. Some require a round-table meeting. Some go straight to mediation.
Month 6 to Month 9 — Mediation if required
If direct negotiation does not produce settlement, mediation is usually the next step. Family law mediation in Victoria is typically conducted by a barrister or accredited family dispute resolution practitioner. A one-day mediation will resolve the substantial majority of matters that reach it.
Mediation costs a few thousand dollars per side but typically saves tens of thousands if the alternative is court.
Month 9 to Month 12 — Consent orders or BFA
Once terms are agreed, they are documented as consent orders filed with the FCFCA or as a Binding Financial Agreement. Consent orders typically take 4-8 weeks to be made by the Court. They make the agreement legally binding, enforceable, and stamp-duty-free in respect of property transfers between spouses.
Twelve months from separation is the typical realistic timeline for an uncomplicated, cooperative matter to reach final consent orders. Many matters take longer. Some are faster.
The 12-month / 2-year time limit trap
If you are married, you have 12 months from the date of your divorce to apply for property orders. If you are de facto, you have 2 years from the date of separation. Missing those limits requires court permission, which is discretionary.
Get advice early in the process so you can plan around the limits — and so you can budget for the realistic cost of resolution at each stage.
Written and reviewed by Elisa Rothschild BA/LLB — Principal Lawyer, Fogarty Oliver Rothschild. Admitted to legal practice in Victoria. Practising family and property law in Melbourne since 2012. Last reviewed 22 May 2026.
This article is general legal information about Australian family law. It is not legal advice for your specific situation. For advice on your matter, book a free initial consultation.