How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Chris The Lawyer Your Own Question
Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22896
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
32702153
Type Your New Zealand Law Question Here...
Chris The Lawyer is online now
A new question is answered every 9 seconds

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

Related New Zealand Law Questions