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Question Details: I have been living with my partner since January last year. I have owned a property with my brother for several years, which was sold and settled this year in June. The equity I used to buy a house was in the joint name of me and my partner. However, I provided a significant amount more in deposit than my partner did. How do I protect this in case of breakup and the house is sold? Will he automatically get a half share of whatever is left in equity? How can I ensure my higher proportion of deposit I provided doesn't get lost?
Filed under Family Law | 1683 View(s)
Community Law Wellington & Hutt Valley
You can protect your assets by entering into a relationship property agreement with your partner. If you don't make a relationship property agreement, then equal-sharing rules could apply.
A relationship property agreement can be made at any time, but there are important requirements that must be followed if the agreement is to be valid. For more information please click the following link:
www.communitylaw.org.nz
Answered 12 Aug 2012. The IMPORTANT NOTICE below is part of this answer.
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