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Matrimonial Property Division in New Zealand: Understanding Your Rights
Matrimonial property division is a complex and often emotionally charged aspect of family law in New Zealand. When a marriage or de facto relationship ends, the assets and debts acquired during the relationship must be divided between the parties. This process can be challenging, especially if there are disagreements or complicating factors involved. In this article, we’ll explore the key principles of matrimonial property division in New Zealand and what you need to know to protect your rights.
The Property (Relationships) Act 1976
The primary legislation governing matrimonial property division in New Zealand is the Property (Relationships) Act 1976. This Act establishes the rules for dividing property when a marriage, civil union, or de facto relationship of at least three years ends. As stated in the Act:
“The purpose of this Act is to reform the law relating to the property of married couples and civil union couples, and of couples who live together in a de facto relationship.”
Equal Sharing Presumption
The Property (Relationships) Act 1976 operates on the presumption that all relationship property should be divided equally between the parties. Relationship property includes any assets acquired by either partner during the relationship, including the family home, cars, furniture, savings, and investments. This presumption of equal sharing applies regardless of who purchased the property or whose name it is in.
However, there are some exceptions to the equal sharing presumption. Separate property, which includes assets owned before the relationship began or inherited during the relationship, is generally not subject to division. Additionally, the court may depart from equal sharing if there are extraordinary circumstances that would make it repugnant to justice.
Contracting Out Agreements
Couples can choose to “contract out” of the Property (Relationships) Act 1976 by entering into a property agreement, also known as a prenuptial or post-nuptial agreement. These agreements allow couples to determine in advance how their property will be divided if their relationship ends. However, for a contracting out agreement to be valid, both parties must receive independent legal advice, and the agreement must be in writing and signed by both parties.
The Role of Family Lawyers NZ
Navigating the complexities of matrimonial property division can be challenging, especially during an already difficult time. That’s where family lawyers NZ come in. A skilled family law solicitor can provide the legal advice and representation you need to protect your rights and achieve a fair outcome.
When choosing a family lawyer, it’s important to look for someone with experience in matrimonial property division cases. You may also want to consider factors such as their communication style, availability, and fees. Many family lawyers offer free initial consultations, which can be a good opportunity to ask questions and determine if they’re the right fit for your case.
For informative videos on various aspects of family law in New Zealand, check out Naomi Cramer’s YouTube channel. Naomi is an experienced family lawyer who provides clear and concise explanations of complex legal concepts, including matrimonial property division.
Conclusion
Matrimonial property division is a significant aspect of family law in New Zealand. By understanding your rights under the Property (Relationships) Act 1976 and working with a skilled family lawyer, you can navigate this process with confidence and achieve a fair outcome. Remember, seeking legal advice early on can help you avoid costly mistakes and protect your long-term financial interests.
No solicitor-client relationship is created by this article. The author and owner shall not be liable for your reliance on the information contained in this article. Readers should obtain their own independent legal advice.
