Relationship Property

Relationship Property

When entering a relationship, it’s a must to understand how property is treated under the law. We specialise in relationship property matters, offering expert legal advice to protect assets and manage property division after separation.

The Law

The Property (Relationships) Act 1976 governs the division of property for marriages, civil unions, and de facto relationships. After three years, the Act provides a regime where property acquired during the relationship typically becomes “relationship property” and is divided equally upon separation.

While this suits many couples, others may prefer to maintain control over personal assets or financial arrangements. In such cases, a formal agreement is usually necessary. There are 2 types – Pre-Nuptial and Contracting-Out Agreements.

Pre-Nuptial Agreements

A “pre-nuptial agreement” (or “pre-nup”) is created before marriage or civil union. It outlines how assets will be divided if the relationship ends. Pre-nups are particularly useful for protecting assets such as businesses, family inheritances, or property acquired before the relationship.

We ensure these agreements comply with all requirements, including full disclosure of assets and independent legal advice, making them enforceable.

Contracting-Out Agreements

“Contracting-out agreements” (often called “Section 21 agreements”) allow couples to opt out of the Act’s default rules at any time, ensuring that property is divided in a way that differs from the standard 50/50 split.

These agreements can be particularly helpful for couples with significant personal assets or those wishing to protect children’s inheritance from prior relationships. Also for those who want to clearly define and protect property that they do not want to fall into the relationship property pool ( “separate property”).

We work with couples to produce legally binding and also fair contracting-out agreements, ensuring both parties understand their rights and obligations. We aim to protect individual assets while respecting shared goals.

Property Division During Separation

When a relationship ends, dividing property can be complex and emotional. We offer supportive legal advice to help couples reach fair agreements. Our services cover:

• Determining relationship vs. separate property.
•  Dividing assets like the family home, vehicles, and investments.
•  Addressing joint debts and liabilities.
•  Ensuring the division is fair and aligns with any agreements.

We strive to resolve disputes through negotiation and mediation, but we can also represent clients in Court if necessary.

In Summary

Managing relationship property requires careful legal planning to protect assets, and ensure wishes are respected. Contact us today to discuss how we can help with your relationship property needs and provide the legal protection you deserve.