I am a pensioner who's husband has decided to leave. I need advice about the property and assets division as my husband

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Customer: I am a pensioner who's husband has decided to leave. I need advice about the property and assets division as my husband went bankrupt in 2013 and I bought out his portion of the property we owned at the time. I eventually sold that property and used the money to buy the current property we live in. Is he entitled to any of the money I put into this property?
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: Nothing as he is still residing in the property as there is the last of the renovations to complete. He is pressing me to give him half which I am not prepared to do unless I have to under the law.
JA: Where is the property located?
Customer: In Otaua which is 13k out of Waiuku and at the top of a high hill.
JA: The Real Estate Lawyer will be able to walk you through that. Anything else you want the Lawyer to know before I connect you?
Customer: Thank you but that is a good start.
Answered by Chris The Lawyer in 3 hours 2 years ago
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Chris The Lawyer
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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 your question
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Chris The Lawyer, Expert

The only way to avoid an equal division is if you had a contracting out agreement under the Property Relationships Act. Otherwise he can insist on a half share but you may be able to argue that he should have less because of the bankruptcy and you buying his share. That was the time you should have signed the contracting out agreement
Customer
My thanks for that. I will try and talk to my husband about it and will definitely bring up that when I sell the property, at least half of the money I loaned to pay out his bankruptcy comes back to me and then the remaining money split equally. Hopefully he will agree to this and save us legal fees etc. Kind regards, ***** *****
Customer
I may have to contact you at a later date if things do not go well. Thank you.
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Chris The Lawyer, Expert

You do have an argument that he should get less than half, but if he doesn't accept this, then it would need to be decided by the Family Court

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