The Property (Relationships) Act 1976 is a New Zealand statute that primarily deals with the division of property of married couples, de facto couples and civil union couples when they separate or when one of them dies. In general, the couple's property is to be divided equally between them.
The Act was previously called the Matrimonial Property Act 1976 but amendments in 2001 changed the scheme of the Act considerably hence "Matrimonial Property" was replaced with "Property (Relationships)" in the short title. The 2001 amendments extended the property division regime in the Act to include heterosexual and homosexual de facto partners, making it one of the first New Zealand statutes to acknowledge same-sex relationships. In 2005 the Act was amended again to include civil union partners following commencement of the controversial Civil Union Act 2004.
Read more about Property (Relationships) Act 1976: Contracting Out Agreements
Famous quotes containing the words property and/or act:
“A few days later the younger son gathered all he had and traveled to a distant country, and there he squandered his property in dissolute living.”
—Bible: New Testament, Luke 15:13.
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—Thomas Jefferson (1743–1826)