Start with a complete, verified balance sheet—not a percentage. Identify every asset, liability, super interest and financial resource, agree a valuation date and evidence, then record who keeps or pays each item and every step needed to complete the division. A private agreement does not itself transfer title, bind a lender or replace Court orders.
Step 1: build the real balance sheet
List the home, investment property, vehicles, bank accounts, shares, businesses, trusts, valuable personal property, superannuation, tax liabilities, mortgages, personal loans, credit cards and guarantees. Include assets and debts held separately as well as jointly. Record the source document and date for every number.
Step 2: exchange and verify
Do not negotiate a final division from estimates supplied by only one person. Exchange statements, tax records and ownership documents. Where an asset is hard to value, agree on a qualified independent valuation or record that the value remains unresolved. Full and frank disclosure continues as circumstances change.
Step 3: turn percentages into actions
“60/40” is not an implementation plan. A workable agreement states the item, agreed value, person keeping it, debt attached to it, cash adjustment, due date, transfer document, refinance condition, sale fallback and who pays each cost.
- A lender is not bound merely because former partners agree who will pay.
- A title registry needs the correct transfer process.
- Superannuation splitting has special procedural requirements and is outside a simple private schedule.
- Tax, stamp duty and third-party rights may change the practical result.
Step 4: choose the legal form
A private property and debt schedule is useful for verified interim or working arrangements. Consent orders, if made by the Court, can formalise suitable agreed financial terms. A binding financial agreement is a different product and each party must obtain independent legal advice.
Time limits and WA
For married couples, a financial application is generally required within 12 months after a divorce becomes final. For de facto couples, the usual limit is two years after breakdown. Western Australian de facto matters use the Family Court Act 1997 (WA) and the Family Court of Western Australia. Late applications may require permission.
Clear answers
Does a signed private property agreement transfer the house?
No. The correct title, lender, tax and settlement steps are still required, and a private record is not the same as Court orders.
Can one person take over a joint loan by agreement?
The lender is not bound by the former partners’ agreement. Refinance or a formal lender-approved change may be required.
Should superannuation be included?
Super interests belong in the financial picture, but a superannuation split has special legal and procedural requirements and should not be attempted through a basic private agreement.
Check the official process
General information only, last checked 18 October 2026. Court forms, fees and procedures change. Use the current official source before filing and obtain legal advice for your circumstances.
What changes when it is in writing
Same problem. What a prepared case looks like.