Terms of Settlement are Agreed

Terms of Settlement are Agreed

• Your solicitor can prepare an Application for Consent Orders and Terms of Settlement for you once you and your spouse have reached an agreement. 
• The Consent Order is filed with the Court Registry. 
• Once the Order is accepted, the Courts decision is absolute and binding.
• If either party is ‘buying out’ any part of the other party’s assets, the transaction must be completed at this stage.  There is no formal agreement until all financial exchanges are completed and the relevant documentation is completed.
• If neither party obtains a Consent Order, then Court proceedings can only be started up until 12 months after the date of the divorce and asset value and financial situation will be considered at the time of the Court proceedings, not at the time of separation.

   

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