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Jessica
Consultant
Chris The Lawyer, Expert
Hi
I am a New Zealand lawyer based in Wellington and will help you with your question today. Please give me a minute to read the question
Chris The Lawyer, Expert
If you have been together for 10 years you are entitled to get a half share of the property. This is calculated by looking at the current value of the house, and taking off the mortgage, and dividing the rest by half. That is your entitlement. You are also entitled to a half share in the furniture and things around the house, any vehicles and Kiwi Saver should be adjusted as well. Sometimes businesses which each of you own become relationship property as well. So that is your entitlement, but if you don't want to take the full share, you can do so and agree to settle on something less. To make a settlement binding each of you needs to see your own lawyer and negotiate a property agreement.
Chris The Lawyer, Expert
Sure-ask away
Chris The Lawyer, Expert
Unfortunately he will be on the title as an equal owner but also because they have been together for a long time, he is entitled to claim a half share of the property. In some cases it is possible to get a greater share, and in a situation where he hasn't contributed to the mortgage for a long time, you might be able to adjust the share in your mother's favour. But it might be important to get your mother to see a lawyer to make sure that the property is shown as tenants in common in equal shares, and for her to make a will in case something happens to her. It would be hard to avoid your stepfather getting a half share, but you could try getting him to sign a will leaving his share to you and your sister, if he doesn't have any of his own children.
Chris The Lawyer, Expert
I should add, that he cannot make you and your sister move out. You are there because your mother needs you there, and she can insist
Chris The Lawyer, Expert
Your mother can put her share as tenants in common in equal shares. That is an important change, which means that she could leave this year to you separately. Otherwise The share passes to your stepfather.These are a little bit difficult to understand, but there are two ways of owning a property with another person. If you are joint tenants, which is most couples, then when one dies, the share passes to the other person. If your mother converts this to tenants in common, her share would then pass however she directs in her will. You should see a family lawyer who can arrange these steps for you. It isn't difficult to do this, and your stepfather doesn't need to agree