Going through a separation or divorce is understandably distressing. Aside from the emotional turbulence of separating your lives, untangling your financial knots, especially the mortgage, can be particularly challenging. To ensure a smooth and fair transition, it’s important to have a clear understanding of the legal aspects of property division, and what happens to the mortgage when relationships change.

Divorce is a challenging life event that requires a range of emotional, logistical, and financial decisions to be made. One of the most complex of these is the division of property. In Australia, property settlements are governed by specific laws and guidelines that aim to ensure a fair distribution of assets between separating couples. Here are 3 important things to know about dividing property in Australia in a divorce.