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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
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Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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When buying a house together, and one persons deposit is

Customer Question

When buying a house together, and one persons deposit is $200,000 and the other is $30,000, what is the best way to own the property?
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.

If you don't want equal shares, then owning as tenants on common in unequal shares may be best. You should also enter a property agreement which sets out shares in the overheads like the mortgage and rates. If you are a couple this should be an agreement under the Property Relationships Act. You also need something about the possibility of selling and what happens if you cannot agree and how this will be resolved

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