My Ex Is Selling Our Assets – What Can I Do?
Your ex can sell assets quickly, and urgent action may need to be taken to stop assets from being sold.
Practical ways to stop your ex from selling assets
Create an inventory of assets (and consider hiring asset trackers); monitor bank accounts for suspicious withdrawals or deposits; set up credit report notifications; check bankruptcy registers; monitor real estate websites for matrimonial properties; ensure joint signatures are required on mortgages and bank accounts; finalise settlements promptly; and get legal advice early.
What if assets are already sold?
Under section 106B of the Family Law Act 1975, courts can reverse asset sales or transfers that defeat or are likely to defeat an existing or anticipated court order — although innocent third-party buyers may be protected. Courts also recognise notional add-backs in limited categories (legal fees, premature fund distribution, and wastage), following Omacini & Omacini (2005), though add-backs are now rarely granted; courts increasingly prefer to adjust the property division instead.
How to legally stop an asset sale
Injunctions and freezing orders can restrain selling or mortgaging property, prevent business risk exposure, and freeze finances such as superannuation, shares and bank accounts. You'll need a basis under the Family Law Act, evidence of the risk of disposal, and to seek relief proportionate to that risk. Urgent injunctions may be granted without notice where an immediate threat exists, such as an imminent auction. A caveat notifies the Registrar of Titles of your interest in a property; once lodged, you must commence proceedings within three months (or two weeks if contested).