What are Consent Orders?
A Consent Order is a written agreement approved by the Court. It has the same effect as if it had been made by a Judge after a Court hearing.
Filing Consent Orders with the Family Court involves the preparation of two documents – the proposed Terms of Settlement (a document setting out what the agreement is and what is to happen with each item of property) and the Application for Consent Orders. If the Court is satisfied with the proposed Terms of Settlement, then it will issue a sealed Order. You do not need to attend Court.
Formalising your agreement by entering into Consent Orders has a number of advantages, including:-
- It finally determines the financial relationship between former spouses so neither can make a further claim on the existing or future assets of the other party;
- It avoids further proceedings;
- It will avoid the payment of stamp duty upon the transfer of any real estate from joint names into the sole name of one party; and
- It makes the agreement legally binding and enforceable at law.