Misc

All is fair in love and law

What's your's is mine. As romance blossoms, few couples want to discuss the nitty gritty of money. But sticking your head in the sand about the Property (Relationships) Act could seriously dent your wealth. If you want to protect yourself, visit a lawyer before you "Pass Go" on your way to Freedom Furniture's bedroom department. If the gloves come off as love goes out the window, you could find yourself losing more than you imagined possible.

Monday, September 27th 2004

Q: What's the act about?

A: The PRA is designed to ensure that property is split fairly at the end of a relationship that has lasted three years or more - whether the partners are married, de facto, heterosexual or homosexual. As one financial adviser pointed out, it also applies to mistresses, rest home relationships and even flatmates if a sexual relationship develops.

In some cases, such as where the couple have children, it can also apply to short-term relationships.

The act also covers what happens to property on the death of one partner. So even those in the most stable of partnerships needs to be aware of the act to ward off any shocks.

Q: What does it cover?

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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