Federal Magistrate Court case – cutting the deal is by BFA or order only
A recent Federal Magistrates Court case, Resch and Resch, is a good illustration of how, aside from death, there are only two ways to finally conclude a deal about property settlement under the Family Law Act: a binding financial agreement or consent orders.
The husband and wife attended mediation and reached agreement as to the terms of a binding financial agreement and consent orders. The wife had a change of mind and did not sign the documents. The husband sought to enforce the oral agreement.
Not surprisingly, the husband was unsuccessful, and costs were ordered against him.
[Disclosure- on reading the judgment, I realised that I am the former solicitor for the wife.]