As a general rule the Property (Relationships) Act 1976 states that when relationship property is divided, each party shares equally (i.e. 50/50) in the family home, family chattels, and any other ‘relationship property’.
The Property (Relationships) Act 1976 sets out the law for division of ‘relationship property’ following division of a marriage, civil union or de facto relationship. A de facto relationship is simply a relationship - irrespective of the sex of either person - where the two people are 18 or older and live together as a couple
Esther Perel, an eminent writer and psychotherapist who has achieved huge popularity from her last two books and TED talks about relationships, had a few interesting observations to make when she went on a recent trip to Cuba. Cuba has one of the highest divorce rates in Latin America with 70% of marriages expected to end in divorce. It is a society where no one accrues wealth or owns property or things, so it’s much easier to separate – as there is no division of belongings and generally people don’t stay together because of the lifestyle or economic support that the relationship brings. In Cuba, marital relationships emphasise emotional fulfillment and minimal economic reliance. “If one is not met emotionally, why be married?” said one of the local female psychologists.
It has become increasingly difficult for first home buyers to enter the property market in New Zealand. The amount of deposit required in most regions has increased significantly, with house prices growing at a fast rate in comparison to peoples’ incomes. Banks have put tighter controls on low deposit lending and a flow on effect is large numbers of first home buyers purchasing properties with the help of their parents. This is usually by them either acting as a guarantor on the mortgage or advancing funds as a gift or a loan to help with the deposit.