Why Obtain Consent Orders?

17 January 2023

Benefits of Consent Orders include the following:

– The property settlement and/or parenting agreement between the parties is made legally binding and enforceable.

– Consent Orders provide finality; except in very limited circumstances the arrangements set out in Consent Orders are final and neither party can change the agreed arrangement (e.g. because they have ‘changed their mind on the deal’ or want ‘a second bite at the cherry’).

– Consent Orders provide peace of mind; the assets accumulated by the parties after Consent Orders are issued are assets of each party respectively, free from claim by the other party.

– Stamp duty (AKA transfer duty) is exempt on transactions provided for by the terms of Consent Orders (e.g. a house transfer from two parties to one under Consent Orders does not incur stamp duty because such transfer has taken place pursuant to Consent Orders).

– Banks often want Consent Orders before they will give formal financial approval.

– Consent Orders are cost effective and quick to obtain.