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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 18837
Experience:  32 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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I WANT TO PURCHASE A RESIDENTUAL PROPERTY BY MYSELF. ALTHOUGH

Resolved Question:

I WANT TO PURCHASE A RESIDENTUAL PROPERTY BY MYSELF. ALTHOUGH I AM MARRIED BUT MY HUSBAND IS NOT INPUTTING ANY DEPOSITE TOWARDS THE PROPERTY. ACCORDING TO NZ LAW, IF I BUY A PROPOERTY WHILE I AM MARRIED, THEN ITS REALLY SHARED BY BOTH PARTNERS EVEN IF ONE OF THE PARTNERS DIDNT HAVE ANY CONTRIBUTION TOWARDS THE PROPERTY. HOW CAN I KEEP MY LEGAL OWNERSHIP OF THE PROPERTY ALONE TO AVOID FUTURE DISPUTES.
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.

christhelawyer : HiWelcome to JustAnswer. My first response will follow shortly. Please feel free to follow up if anything is not clear
christhelawyer : You and your husband can sign an agreement under the Property Relationships Act contracting out of the joint sharing rules in the Act. This will make the property entirely separate, and yours alone.
Customer:

It was short. I need to know if there any other way than signing an agreement. For example, if I purchase the property with one of siblings, does that make a difference. If the only choice is to sign an agreement, can I do it after the purchasing has happened.

christhelawyer : The only sure way of doing this is by such an agreement. Even if you buy with other siblings, your interest could be claimed by him. There would be the possibility of buying the land in a trust, but in some circumstances this can be claimed. The cost of getting a contracting out agreement would be much less than getting a trust.
christhelawyer : you can get the contracting agreement signed after the purchase however
Customer: replied 1 year ago.

Relist: Answer quality. I would like to find out if there is another way other than signing an agreement with my partner stating the property solely owned by me. I have my brother who is interested in joining the property and sharing the cost. Does that still give entitlement for my husband knowing that he has not paid for this property? If signing an agreement between me and my husband is a must, then is it ok to do the agreement after I purchase the property? Thanks

Expert:  Chris The Lawyer replied 1 year ago.
I have replied saying you can sign an agreement after the purchase. But the only guaranteed way of ensuring your husband has no claim is a contracting out agreement
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 18837
Experience: 32 years qualified as a lawyer; LLB, MMgt and FAMINZ.
Chris The Lawyer and other New Zealand Law Specialists are ready to help you
Customer: replied 1 year ago.

Thank you, XXXXX XXXXX that I didn't get your answer through the second time.


Thanks again. It was very good advice.

Expert:  Chris The Lawyer replied 1 year ago.
I am glad this is useful

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