Understanding Matrimonial Property Division in New Zealand
When a relationship comes to an end, one of the most challenging aspects is dividing the matrimonial property. In New Zealand, the Property (Relationships) Act 1976 governs the division of property between couples, whether they are married, in a civil union, or in a de facto relationship. This article will provide an overview of matrimonial property division in New Zealand and the role of family lawyers NZ in the process.
What is Matrimonial Property?
Matrimonial property, also known as relationship property, is any property acquired by either partner during the relationship. This includes the family home, cars, furniture, savings, and investments. It does not matter whose name the property is in or who paid for it. If it was acquired during the relationship, it is generally considered matrimonial property.
There are some exceptions to this rule, such as property acquired by one partner through inheritance or gift, or property owned before the relationship began. These types of property may be considered separate property and not subject to division.
Equal Sharing Presumption
Under the Property (Relationships) Act 1976, there is a presumption that matrimonial property will be divided equally between the partners. Section 11 of the Act states:
“If, on the division of relationship property under this Act, the share of each spouse or partner is not equal, the share of each shall be determined in accordance with the contribution of each to the marriage, civil union, or de facto relationship.”
This means that unless there are exceptional circumstances, the starting point for dividing matrimonial property is a 50/50 split. However, a family law solicitor can help argue for a different division if one partner has made a significantly greater contribution to the relationship.
Contracting Out Agreements
Couples can choose to “contract out” of the equal sharing presumption by entering into a prenuptial agreement or a contracting out agreement during the relationship. These agreements allow couples to decide in advance how their property will be divided if the relationship ends.
It is important to note that these agreements must be in writing, signed by both partners, and each partner must have received independent legal advice before signing. A family court lawyer can assist with drafting and reviewing these agreements to ensure they are legally enforceable.
The Role of Family Lawyers
NZ family lawyers play a crucial role in helping couples navigate the process of matrimonial property division. They can provide legal advice and representation to ensure that their client’s rights and interests are protected.
A family lawyer can assist with negotiating a settlement agreement, representing their client in court if necessary, and ensuring that any agreements reached are legally enforceable. They can also help with related issues such as domestic violence and child custody.
When choosing a family lawyer, it is important to select someone with experience in matrimonial property division and a track record of successfully representing clients in these matters. A good family lawyer will provide clear and practical legal advice, and work to achieve the best possible outcome for their client.
Conclusion
Matrimonial property division can be a complex and emotional process, but understanding your rights and obligations under the law can help make it easier. If you are going through a separation or divorce in New Zealand, it is important to seek the advice of an experienced family lawyer who can guide you through the process and protect your interests.
Remember, the law presumes that matrimonial property will be divided equally, but there may be circumstances where a different division is appropriate. A family lawyer can help you argue your case and achieve a fair and equitable outcome.
If you are considering entering into a prenuptial or contracting out agreement, it is essential to seek independent legal advice to ensure that the agreement is legally enforceable and protects your rights.
With the right legal support and guidance, you can navigate the challenges of matrimonial property division and move forward with confidence.
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.
