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Overseas financial agreements in Australia: Are they enforceable in Australia?
Overseas financial agreements in Australia: Are they enforceable in Australia? The short answer is No. If parties are living and working overseas any financial agreement they enter into in the country in which they reside before, during, or after the relationship has ended, subject to the requirements of the jurisdiction in which the parties reside, […]
Overseas financial agreements in Australia: Are they enforceable in Australia?
Overseas financial agreements in Australia: Are they enforceable in Australia?
The short answer is No.
If parties are living and working overseas any financial agreement they enter into in the country in which they reside before, during, or after the relationship has ended, subject to the requirements of the jurisdiction in which the parties reside, which agreement is enforceable in such countries, cannot be enforced in Australia.
If the parties have property in Australia and if they do reside overseas and own property overseas, it would be advisable for such parties to enter into legally binding and enforceable financial agreements in Australia as well as enter into a similar overseas financial agreement.
Australia is not a party to any convention dealing with the recognition and enforcement of international prenuptial agreements.
FAQ
Can overseas financial agreements be enforced in Australia?
No, overseas financial agreements entered into by parties living and working overseas are not enforceable in Australia, subject to the requirements of the jurisdiction in which the parties reside.
Are financial agreements entered into by parties living overseas before, during, or after the relationship enforceable in Australia?
No, financial agreements entered into by parties living and working overseas before, during, or after the relationship, subject to the requirements of the jurisdiction in which the parties reside, cannot be enforced in Australia.
What should parties who reside overseas but have property in Australia do to ensure the enforceability of their financial agreements?
It would be advisable for parties who reside overseas but have property in Australia to enter into a legally binding and enforceable financial agreement in Australia, as well as enter into a similar overseas financial agreement.
Is Australia a party to any convention regarding the recognition and enforcement of international prenuptial agreements?
No, Australia is not a party to any convention dealing with the recognition and enforcement of international prenuptial agreements.
Are overseas financial agreements enforceable in Australia if the parties do not have any property in Australia?
No, overseas financial agreements entered into by parties living and working overseas are not enforceable in Australia, regardless of whether the parties have any property in Australia or not.
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