Document background
The 50/50 Separation Agreement is a crucial document in New Zealand family law, designed to formalize the equal division of relationship property when partners separate. This agreement is founded on the principles established in the Property (Relationships) Act 1976, which presumes equal sharing of relationship property. It is typically used when partners have reached mutual agreement on property division and wish to document their arrangement in a legally binding format. The agreement must be certified by lawyers for both parties and can cover various aspects including real estate, financial assets, personal property, business interests, and debts. This type of agreement is particularly important in New Zealand as it provides certainty and finality to property matters, helping partners move forward independently while ensuring their rights are protected under New Zealand law.
