No. Divorce does not deal with property settlement (the division of assets). What it does do is set the time limit of 12 months from the date your divorce is finalised in which to file Court proceedings for property settlement. What does this mean? If your divorce becomes finalised and you are unable to agree on a property settlement within 12 months, you will be out of time to make an application to the Court for property settlement. You may of course still apply out of time, but there are no guarantees that the Court will accept your application and you will need good reasons why the application has been made out of time.