What is a Contracting Out Agreement?
February 24, 2021
In a relationship longer than 3 years, the Property (Relationships) Act 1976 provides that relationship property will be shared equally, unless a Court considers there are extraordinary circumstances which would make equal sharing repugnant to justice.
A Contracting Out Agre...
Engagement Ring - Is it Relationship Property?
February 24, 2021
Engagement Ring - Is it Relationship Property?Who owns an engagement ring if the relationship has broken up?Mariah and James decided to split up. They attempted to divide their assets in an amicable manner. James took legal advice on the engagement ring.James had paid $20,00...
Is there an "expiry" date or time limit for applications for orders under the Property (Relationships) Act?
February 24, 2021
Common question - Is there an "expiry" date or time limit for applications for orders under the Property (Relationships) Act?
Yes.
In the case of a marriage or civil union, you must apply within one year after it is dissolved.
In the case of a de facto relationsh...
Are you in a de facto relationship?
February 24, 2021
Several of my clients did not think they were in a de facto relationship because they did not live with their partner. My response was that you do not have to live with your partner to qualify as a de facto couple.
Under New Zealand legislation, a de facto relationship will ...
Relationship Property - What happens to debt?
February 24, 2021
This question comes up often: "What happens to our debt when we separate? Who gets what?"
Put simply, debts are separated into two categories: personal debts and relationship debts. Personal debts are the responsibility of the person who incurred them.
Relationship debts usu...
Are inheritances relationship property?
February 24, 2021
Jo and Jessica have been in a de facto relationship for six years. They do not have a contracting out agreement in place. They have no children. Jo’s Grandmother has passed away, leaving an inheritance to Jo of $100,000.00.
Jo and Jessica own a townhouse in Hamilton and a ...