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Your relationship under New Zealand Relationship Property law may be considered to have started a lot earlier than what you realise. This could put your assets at risk of a Relationship Property claim without you even realising.
Under the Property (Relationships) Act, a de facto relationship is a relationship between 2 people who are both aged 18 years or older and who live together as a couple. Living together as a couple doesn’t only mean you have to live in the same house. A de facto partner can be someone who lives in a completely different house. That’s because all of the following circumstances of the relationship are to be taken into account (not just living in the same house):
- The duration of the relationship.
- The nature and extent of common residence.
- Whether or not a sexual relationship exists.
- The degree of financial dependence or interdependence, and any arrangements for financial support, between the parties.
- The ownership, use, and acquisition of property.
- The degree of mutual commitment to a shared life.
- The care and support of children.
- The performance of household duties.
- The reputation and public aspects of the relationship (do others consider you are in a relationship?).
Also, a court is entitled to have regard to such matters, and to attach such weight to any matter, as they consider appropriate.
If you are concerned about your assets and want to protect them for your future should your relationship end, please feel free to call me for a free 15 minute call on 021 077 7785 or email me at Hayley@caringestates.co.nz
For your free self assessment tool to find out if a Relationship Property Agreement is right for you, please click here:
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Hayley Boud
Your Caring Relationship Property and Estates Lawyer, specialist in Contracting Out Agreements (PreNups)