Family Law: Binding Financial Agreements - Guides
Binding Financial Agreements
7. Setting Aside a BFA
Firm / Chambers:
Last updated: 26 Jun 2015
- The grounds upon which a BFA can be set aside include:
- a party failed to disclose an important matter;
- circumstances have arisen which make a term of the agreement impracticable to be carried out;
- a material change of circumstances relating to a child of the relationship;
- the real purpose of the agreement is to divide property in a way which will prevent payment to a creditor;
- the agreement is void, voidable or unenforceable for reasons such as duress, undue influence or unjust enrichment. Just as parties’ relative financial positions can be very different, their circumstances, personalities and intellectual capacities often mean one is vulnerable to the persuasive powers of the other;
- a party engaged in unconscionable (grossly unfair) conduct;
- the agreement covers a superannuation interest which cannot be split; or
- a payment flag is operating on a superannuation interest covered by the agreement.
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