AREA OF LAW
Relationship Property
We deal with all aspects of relationship property under the Act. The Act applies to the
division of property when a de facto relationship, civil union or marriage comes to an
end, as a result of separation or death. The Act has jurisdiction over a civil union or
de-facto relationship involving same sex couples. The features of the Act are:
1. Prima facie relationship property is divided equally, but there are exceptions to
this.
2. Relationship property includes the family home, family chattels (whenever
acquired), and all other assets acquired during the marriage, relationship or civil
union including accumulation of income earned during that period.
3. A party would be entitled to retain their separate property which includes any
asset, other than relationship property, acquired before the commencement of
the de facto relationship, marriage or civil union, and as a beneficiary of a Trust
or an estate, provided such assets are not intermingled.
4. Property assets are usually classified as relationship property or separate
property as at the date of separation or date of death. However, the value of such
assets are, in most cases, taken at “hearing date” being the date of the Family
Court hearing to determine a division of property or upon such date you reach
agreement.
5. S.44C of the Act now allows the Family Court to compensate a party where
relationship property is transferred to a standard Family Trust during the de facto
relationship, civil union or marriage.
6. A party can also claim compensation for economic disparity. In plain English this
allows a party who has given up career opportunities and has incurred a loss as
a result of the division of functions in the marriage.
If you have any queries in regard to relationship property, please feel free to contact our
Relationship Property Team.
Lloyd Collins
Paul Whitmarsh
Davina Rowan
|
|
|
Partners
Lloyd Collins
Paul May
Eugene Collins
Nicola Goss
Associate
Paul Whitmarsh
Address:
4/44-56
Queens Drive
Lower Hutt
New Zealand
Phone:
04 566-5775
Fax: 04
566-5776
|