Overseas Assets In A Property Settlement

Do overseas assets form part of the property pool?

Yes. Overseas assets and liabilities are included in the asset pool during a property settlement and require the same disclosure obligations as domestic assets, including bank statements, property titles, mortgages and valuations.

Can the family court make orders about international assets?

Australian family courts have express jurisdiction over international assets under section 31(2) of the Family Law Act, which permits the court to exercise jurisdiction in relation to persons or things outside Australia and its territories. The main challenge is determining whether Australia or a foreign jurisdiction is better placed to deal with the matter.

When will the court make orders about overseas assets?

The 'closest connection' test applies — the country where the parties have the strongest ties (residence, location of assets) typically has judicial authority.

What else to consider

Best practice is to obtain a settlement agreement recognised in the asset's jurisdiction to ensure it's enforceable there. Weigh the costs and complexity of foreign proceedings against Australia's 'just and equitable' framework.