Basic - Relationship Property Agreement

A Relationship Property Agreement regulates the division of relationship property in the event of separation.

The Property (Relationships) Act 1976 (“The Act”) applies to partners seeking to divide their relationship property following the end of their marriage, civil union, or de facto relationship.

In order to contract out of the PRA effectively, the following requirements (except in exceptional circumstances) must be met:

• The agreement must be in writing and signed by both parties;
• Each party to the agreement must have independent legal advice before signing the agreement;
• The signature of each party to the agreement must be witnessed by a lawyer;
• The lawyer who witnesses the signature of a party must certify that, before that party signed the agreement, the lawyer explained to that party the effect and implications of the agreement; and
• The consequences of the agreement must not be extremely favourable to one party at the expense of the other.

CODR can arrange a lawyer for you on-line [email protected]

What is the Property (Relationships) Act 1976?

The Act is a wide-ranging piece of legislation which sets out how property between partners is to be divided in the event of separation (by death or otherwise). The purpose of the Act is to provide the Family Court with a fair and objective framework to be used for the purpose of dividing relationship property between partners in disagreement. This framework is intended to recognise the equal and sometimes varying contributions made by both partners to the fruits of a past relationship, as well as to provide for the interests of children.

Who does the Act apply to?

The Act applies to all married couples, individuals in a civil union and people in a de facto relationship.

What is a de facto relationship?

A de facto relationship is a relationship between two individuals who “live together as a couple”.

Important note: this product is a legal document which does not include the provision of any legal advice. You and your partner each need to consult with a separate lawyer prior to signing the agreement for the agreement to be enforceable. CODR can arrange for that independent advice to be given on-line and for you to get an enforceable relationship property agreement without needing to go anywhere. Ask for a free quote [email protected]