For clients who have significant trusts, own businesses or multiple properties in New Zealand and/or overseas, there can be additional challenges and complications regarding relationship property.
The law on relationship property is determined under the Property Relationship Act. Sometimes if the relationship has lasted less than three years, equal sharing may still apply if that would be considered just. For example, where there are children or one partner has made a substantial contribution to the relationship.
Some property is deemed separate property not relationship property and therefore is not shared between the parties. Superannuation, inheritances and debts may fall in to this category.
For clients who have trusts, own businesses or property in New Zealand or overseas, there can be additional challenges and complications. As a specialist family lawyer, Jeremy Sutton routinely deals with these sorts of cases.
For the past 20 years Jeremy Sutton has specialised in high net worth, financially complex divorce cases. He knows what works to get the job done assiduously, fairly and quickly and how to protect you and your significant assets through divorce.
For more information on relationship property, request a consultation.
Because of the personal nature of jewellery, in most cases it is likely that a gift of jewellery will be the separate property of the person who receives the gift.
What is a Contracting Out Agreement? Why do you need one? Section 21 of the Property (Relationships) Act 1976 enables couples to contract out of the Act and enter into their own private agreement to determine the status, ownership and division of their property upon separation or death.