DO I NEED TO FINALISE MY PROPERTY SETTLEMENT WITH ORDERS? & HOW LONG DO I HAVE? This is a common question we are asked when approached for advice about separation and property settlements. The Family Law Act sets out timeframes for dealing with property matters. You have 12 months from the date of grant of divorce to finalise your property settlement or two years from the date of separation if you are defacto. Often separating couples come to an arrangement about their financ