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The Binding Financial Agreement Property Settlement is a crucial legal instrument in New Zealand's family law framework, primarily governed by the Property (Relationships) Act 1976. This document is typically used when parties wish to formalize their property division arrangements following the end of a relationship, whether marriage, civil union, or de facto partnership. It provides a comprehensive framework for dividing both relationship and separate property, including real estate, financial assets, business interests, and personal effects. The agreement must meet strict statutory requirements, including mandatory independent legal advice for both parties, full financial disclosure, and proper execution procedures. It's designed to provide certainty and finality in property matters, helping parties avoid future disputes and court proceedings. The document's binding nature means it can only be set aside in limited circumstances, making it an important tool for achieving definitive property settlements in New Zealand.

1. Parties: Identification and details of all parties to the agreement

2. Background: Context of the relationship, reason for the agreement, and acknowledgment of independent legal advice

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Acknowledgments: Parties' acknowledgments regarding legal advice, disclosure, and voluntary nature of agreement

5. Property Classification: Identification and classification of relationship property and separate property

6. Property Division: Agreed division of property, including specific allocations and timing

7. Implementation of Division: Practical steps for implementing the property division, including transfers and payments

8. Tax Implications: Acknowledgment and handling of tax consequences from property transfers

9. Release and Discharge: Mutual release of future claims relating to property

10. Confidentiality: Obligations regarding confidentiality of agreement terms

11. Dispute Resolution: Process for resolving any disputes arising from the agreement

12. General Provisions: Standard contract clauses including severability, entire agreement, and governing law

13. Execution: Signing requirements and independent legal advice certificates