Document background
The Divorce Property Settlement Agreement is a crucial legal document used in New Zealand when married or de facto partners separate and need to formalize the division of their relationship property. It is prepared in accordance with the Property (Relationships) Act 1976 and must be certified by independent lawyers to be legally binding. This agreement is typically prepared after separation but before or concurrent with divorce proceedings, documenting the complete division of assets and liabilities accumulated during the relationship. It covers all aspects of property division, including real estate, financial assets, personal property, businesses, and debts. The agreement serves as a full and final settlement of property matters between the parties, preventing future claims except in limited circumstances specified by New Zealand law. It's essential for providing certainty and finality to both parties and is often required by third parties such as banks and land registries to implement the agreed property transfers.
