The Domestic Agreement serves as a crucial legal instrument in New Zealand for couples seeking to formalize their property and financial arrangements, whether at the beginning of or during their relationship. This document is essential for partners who wish to clearly define their property rights, financial obligations, and future arrangements in a manner that differs from the default provisions of the Property (Relationships) Act 1976. The agreement can be utilized by married couples, civil union partners, or de facto relationships, and must comply with New Zealand legal requirements including independent legal advice for both parties. It typically covers relationship property division, separate property protection, debt responsibilities, and can include provisions for children, inheritances, and future asset acquisition. The Domestic Agreement must be properly executed and certified to be legally enforceable in New Zealand courts.
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1. Parties: Identifies and defines all parties to the agreement, including full legal names and addresses
2. Background: Sets out the context of the agreement, relationship status, and intention of the parties
3. Definitions: Defines key terms used throughout the agreement
4. Relationship Property: Identifies and classifies property as relationship or separate property
5. Financial Obligations: Details ongoing financial responsibilities and arrangements between parties
6. Property Division Principles: Establishes agreed principles for division of property during relationship or upon separation
7. Relationship Debts: Addresses the treatment and responsibility for joint and individual debts
8. Disclosure: Confirms that both parties have made full disclosure of all relevant assets and liabilities
9. Variation: Specifies how the agreement can be modified in the future
10. Severability: States that if any provision is invalid, the remainder of the agreement remains enforceable
11. Governing Law: Confirms the agreement is governed by New Zealand law
12. Execution: Formal signing section including independent legal advice certificates
1. Children's Arrangements: Include when parties have children - covers care arrangements, financial support, and education
2. Business Interests: Include when either party owns business interests - addresses management and ownership rights
3. Trust Property: Include when parties have trust interests - addresses treatment of trust property and beneficiary rights
4. Inheritance and Gifts: Include when addressing treatment of inherited assets or anticipated inheritances
5. Overseas Assets: Include when parties have assets in other jurisdictions
6. Future Property: Include when addressing treatment of property acquired after the agreement
7. Living Arrangements: Include when specifying details about shared or separate living arrangements
8. Pets and Animals: Include when addressing care and ownership of pets
9. Cultural Considerations: Include when addressing specific cultural assets or practices
1. Schedule 1 - Separate Property Schedule: Detailed list of each party's separate property with values
2. Schedule 2 - Relationship Property Schedule: Detailed list of relationship property with values
3. Schedule 3 - Liabilities Schedule: List of all debts and liabilities, both joint and individual
4. Schedule 4 - Financial Disclosure: Detailed financial statements for both parties
5. Schedule 5 - Business Assets: Details of business interests including valuations
6. Appendix A - Independent Legal Advice Certificates: Certificates from lawyers confirming independent legal advice
7. Appendix B - Valuations: Professional valuations of significant assets
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