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The Property (Relationships) Act is the legislation that helps determine how property is divided when a relationship ends.
The Act is based on the principle that both individuals in a relationship are equal, that both financial and non-financial contributions to the relationship should be treated equally, and that the division of property should take into account any economic advantages or disadvantages that one party may have experienced as a result of the relationship.
If you can’t agree you can apply to the Family Court for a decision.
The Court will usually order that the relationship property be shared equally between the two of you.It’s important to note that even if you contract out of the Act and later separate, the Court can still override the agreement if it decides that the agreement would result in a serious injustice to one of the parties.When a contracting out agreement is made, the following rules must be followed or it might not be legally enforceable: Back to top Is there a template we can use to draw up our relationship property agreement?Sell My Property Now commenced business in 2012 and can lay claim to the following market initiatives which most of our competitors have now followed our lead on: express 1 hour 'live' listing upload; available 7 day dedicated customer support from one of the business owners; 100% price guarantee; immediate upload of listing edits.We are a licensed real estate agency customer of au.Back to top What can we do if my partner and I don’t want our property to be divided according to the Property (Relationships) Act?You and your partner can make your own agreement about how you will manage the property during your relationship, and how you will divide it if your relationship breaks up.The Property (Relationships) Model Form of Agreement Regulations 2001 has a template you can use, or your lawyer can draw up an agreement for you.Remember that regardless of whether you use a template or write it yourselves, it will need to be checked by your respective lawyers, who may suggest amendments to ensure the agreement’s validity.Different rules apply to relationships that have lasted for less than three years.More about this is on the Ministry of Justice website. How will this affect the way our property gets divided?