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Marital Property Agreement

Marital Property Agreement Template for New Zealand

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Key Requirements PROMPT example:

Marital Property Agreement

"I need a Marital Property Agreement drafted for a couple where Party A owns multiple businesses in New Zealand and Australia, and Party B owns significant real estate investments, with the agreement needed before their wedding in March 2025."

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Document background
The Marital Property Agreement is a crucial legal instrument in New Zealand for couples who wish to establish their own property arrangements outside the default regime of the Property (Relationships) Act 1976. It is commonly used before marriage, civil union, or cohabitation, but can also be entered into during a relationship. The agreement requires careful consideration of existing assets, future acquisitions, business interests, and potential inheritance. Each party must receive independent legal advice, and their respective lawyers must certify the agreement. The document needs to be comprehensive yet clear, covering all aspects of property division while ensuring compliance with New Zealand legal requirements. It's particularly important for individuals with significant assets, business interests, trust involvement, or those entering second marriages.
Suggested Sections

1. Parties: Identification of both parties entering into the agreement, including full legal names and addresses

2. Background: Context of the agreement, including the parties' relationship status and intention to marry/enter civil union

3. Definitions: Key terms used throughout the agreement, including 'Relationship Property', 'Separate Property', and other relevant definitions

4. Purpose and Intent: Clear statement of the agreement's purpose to contract out of the Property (Relationships) Act 1976

5. Separate Property: Detailed provisions regarding property that will remain separate property of each party

6. Relationship Property: Provisions regarding property that will be considered relationship property

7. Future Property: Treatment of property acquired after the agreement takes effect

8. Disclosure: Acknowledgment of full disclosure of assets and liabilities by both parties

9. Independent Legal Advice: Confirmation that both parties received independent legal advice

10. Variation: Process for modifying the agreement in the future

11. Severability: Provision ensuring partial invalidity doesn't void entire agreement

12. Governing Law: Specification that New Zealand law governs the agreement

Optional Sections

1. Children's Interests: Provisions regarding existing or future children's interests - used when parties have or plan to have children

2. Business Interests: Specific provisions for business assets and income - used when either party owns a business

3. Trust Provisions: Provisions regarding trust interests - used when either party has trust interests

4. Inheritance: Treatment of inherited property - used when substantial inheritances are expected

5. International Assets: Provisions for overseas property - used when parties have international assets

6. Debt Management: Specific provisions about existing or future debts - used when significant debt exists

7. Death Provisions: Provisions regarding property division upon death - used when parties want to address estate planning

8. Relationship Debts: Specific provisions about joint debts and liabilities - used when parties have significant shared debts

Suggested Schedules

1. Schedule A - Assets and Liabilities: Comprehensive list of each party's assets and liabilities at the time of agreement

2. Schedule B - Valuations: Professional valuations of significant assets mentioned in the agreement

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

4. Schedule D - Supporting Documents: Copies of relevant documents such as trust deeds, business valuations, or property titles

5. Schedule E - Future Property Schedule: Template for recording future acquired property and its agreed status

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Relationship
Relationship Property
Separate Property
Effective Date
Relationship Date
Marriage/Civil Union
De Facto Relationship
Separation
Dissolution
Property
Income
Financial Resources
Family Home
Chattels
Business Assets
Trust Property
Future Property
Inheritance
Gift
Liability
Relationship Debt
Personal Debt
Independent Legal Advice
Market Value
Disclosure
Children
Working Day
Settlor
Trustee
Beneficiary
Joint Property
Commencement Date
Termination Date
Professional Practice
Intellectual Property
Clauses
Interpretation
Disclosure
Independent Legal Advice
Separate Property
Relationship Property
Property Division
Future Acquisitions
Trust Interests
Business Interests
Inheritance Rights
Debt Allocation
Death Provisions
Separation Provisions
Review and Variation
Severability
Governing Law
Dispute Resolution
Confidentiality
Further Assurance
Execution Requirements
Amendment
Termination
Asset Protection
Income Treatment
Gift Treatment
Property Maintenance
Legal Costs
Mutual Release
Certification
Notice Requirements
Relevant Industries

Legal Services

Financial Services

Wealth Management

Professional Services

Family Law

Real Estate

Private Banking

Estate Planning

Business Advisory

Relevant Teams

Legal

Private Client Services

Wealth Management

Family Law

Property Law

Document Processing

Client Advisory

Estate Planning

Relevant Roles

Family Lawyer

Legal Partner

Private Wealth Manager

Estate Planning Attorney

Financial Advisor

Property Lawyer

Legal Associate

Trust Lawyer

Relationship Property Specialist

Legal Executive

Private Client Advisor

Family Court Judge

Notary Public

Industries
Property (Relationships) Act 1976: The main legislation governing relationship property division in New Zealand, including rules for contracting out agreements (prenuptial agreements) and division of relationship property
Care of Children Act 2004: Relevant if the agreement includes provisions about children's care arrangements or guardianship matters
Family Proceedings Act 1980: Covers legal aspects of relationship dissolution and related matters that might need to be referenced in the agreement
Contract and Commercial Law Act 2017: Provides the general framework for contract law in New Zealand, which applies to the formal requirements and interpretation of the agreement
Family Court Act 1980: Establishes the jurisdiction and powers of the Family Court, which may be relevant for enforcement of the agreement
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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