The property relationship act is set in New Zealand which covers laws that govern the division of property when couples are getting divorced. If you are getting a divorce, for the proper division of property, you will have to go through this law. This law also covers how creating agreements how the property should be divided before and after the end of the relationship.
If you are planning a divorce or to separate from your partner, getting a clear idea about the law and also getting the guidance of relationship property lawyers Auckland is much needed. This article will focus on the answering the most commonly asked questions about relationship property law: Go here https://www.bblawpractice.co.nz/ for more information about lawyer.
Who Does the Law Apply to?
The relationship property barrister Auckland law applies to married couples, civil union couples, couples for have been in a de facto relationship for minimum of 3 years and many other instances. To find out of the law applies to your relationship, you can simply get the needed advice from a relationship property lawyer Auckland. These professionals will look into your family or relationship background to provide you with what you need to do and also will ready you for the court case if needs to be.
What is Relationship Property?
The property that is owned by you and your partner falls in two categories, named relationship property and separate property. Under this law, the property in the relationship is divided equally. The assets of a relationship that was owned by the partner before the relationship but was used for intentions of both the partners after the relations, the income that is earned during the relationship, property that is joined by both the partners are only some of the examples of properties that belongs to relationship property.
What Happens to the Debts?
The law governs the debts that the couple has obtained as well. Again, they are dividing into relationship debts and separate debts. If you are having a debt, just like you pay attention to dividing the property, look into how you can divide the debts as well. After you have looked into the property laws, it will be much easier for you to handle the complications that come your way financial wise. If you want more of your questions answered, gain the advice of a lawyer.
Moreover, this law will help solve many disputes that couples go through before their divorce and even after their divorce. Thus, it will make their life so much easier and will help you take your relationship much easier.