Cohabitation Property Agreement Template for New Zealand

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Key Requirements PROMPT example:

Cohabitation Property Agreement

"I need a Cohabitation Property Agreement for a couple where one partner owns a successful business and multiple investment properties, while the other partner is moving from overseas to New Zealand in March 2025; the agreement needs to specifically address international assets and business interest protection."

Document background
The Cohabitation Property Agreement is a crucial legal document used in New Zealand when two individuals are living together or planning to live together in a de facto relationship and wish to establish clear terms regarding their property rights. This agreement is particularly important as it allows couples to contract out of the default provisions of the Property (Relationships) Act 1976, which would otherwise automatically apply after three years of cohabitation. The document typically includes detailed schedules of each partner's separate property, provisions for relationship property, arrangements for future asset acquisition, and procedures for property division in case of separation. It requires both parties to receive independent legal advice before signing to ensure its validity and enforceability under New Zealand law.
Suggested Sections

1. Parties: Identifies and provides full details of both parties entering into the agreement

2. Background: Sets out the context of the relationship, acknowledgment of de facto status, and purpose of the agreement

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes rules of interpretation

4. Acknowledgements: Confirms both parties have received independent legal advice and understand their rights under the Property (Relationships) Act 1976

5. Separate Property: Identifies and confirms property that will remain separate property of each party

6. Relationship Property: Defines what constitutes relationship property and how it will be treated

7. Division of Property: Establishes how property will be divided in the event of separation

8. Debts and Liabilities: Addresses responsibility for existing and future debts

9. Dispute Resolution: Sets out the process for resolving any disputes about the agreement

10. Variation of Agreement: Specifies how the agreement can be modified

11. Governing Law: Confirms the agreement is governed by New Zealand law

12. Execution: Formal signing section including certificate from each party's lawyer

Optional Sections

1. Joint Purchases: Include when parties anticipate making significant joint purchases during cohabitation

2. Business Assets: Include when either party owns a business or may establish one during the relationship

3. Inheritance and Gifts: Include when parties expect to receive significant inheritances or gifts

4. Children's Property: Include when either party has children from previous relationships with their own property

5. Property in Trust: Include when either party has interests in family or other trusts

6. Overseas Assets: Include when either party owns property in other jurisdictions

7. Life Insurance: Include when parties wish to address life insurance policies and beneficiaries

8. Sunset Clause: Include when parties want the agreement to expire after a certain period or event

Suggested Schedules

1. Schedule 1 - Separate Property of First Party: Detailed list of all assets and liabilities owned by the first party at the time of agreement

2. Schedule 2 - Separate Property of Second Party: Detailed list of all assets and liabilities owned by the second party at the time of agreement

3. Schedule 3 - Relationship Property: List of any existing relationship property at the time of agreement

4. Schedule 4 - Certificates of Independent Legal Advice: Signed certificates from each party's lawyer confirming independent legal advice was given

5. Schedule 5 - Valuations: Current valuations of significant assets mentioned in the agreement

6. Appendix A - Proof of Assets: Supporting documentation proving ownership of listed assets

7. Appendix B - Financial Statements: Recent financial statements for any businesses or investments included in the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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