The legal conceptualisation of family property interests in Australia

Family property law in Australia is highly regulated by the Family Law Act 1975 (Cth) and the exercise of judicial discretion in property orders based on this legislation. The chapter will explore the way that family property is divided in Australia and how the separate property regime can be adjusted as a result of the exercise of judicial discretion in a property order under the Act. Married and de facto couples in Australia are not legally presumed to own matrimonial property in the form of co-ownership. Each person can own property in his or her own name. However, property adjustment can occur upon separation if making an order would be just and equitable. The financial and non-financial contributions and future needs are factored in the adjustment of family property when the court exercises its broad judicial discretion.