As Kiwis, most of us understand we have a responsibility as parents to provide for our children. But what if our children are adults and financially independent?
A recent news story on the front page of the stuff.co.nz website featured two Wellington couples who were selling their dream home after owning and living in it together for seven years. One comment suggested the story normalised the fact that “housing is now unaffordable for most Kiwis.” The story also normalised the fact that the current generation are more open to property sharing than in the past.
When a relationship comes to an end, the divvying up of relationship property is no walk in the park. Often it can take months, if not years, for disagreements to be resolved. It’s an emotionally charged time, and it doesn’t help that the law in this area has some relatively blurred lines when it comes to the division of relationship property.
New Zealand has changed significantly over the last half-century. The Property (Relationships) Act 1976 was drafted at a time when couples generally married young and pooled their resources to buy a house as early as they could, a time when ABBA’s ‘Fernando’ topped the national charts and Fred Dagg and Footrot Flats made Kiwis laugh out loud.
With lengthening life expectancies, better health in later years, and increasing divorce rates, it’s not surprising we’re seeing more “twilight relationships” blossom.
