Relationships are complex as they involve the blending of lives, emotions and assets. In New Zealand, the Property (Relationships) Act 1976 governs how property is divided when a relationship ends, whether due to separation or death. Understanding the importance of this Act and its implications is crucial for anyone entering a committed relationship or facing the conclusion of one.
Relationship property encompasses the assets and debts acquired during a relationship, including both marriages and de facto partnerships. Some of key principle of the Property (Relationships) Act 1976 is equal sharing, what separate property and not relationship property and how to contracting out of the Act. If you want to learn more about what is included in the Property (Relationship) Act 1976 follow this link here.
