Buying guide
Refinancing your mortgage after a breakup or divorce
What happens to the mortgage when you separate?
AI summary
Separating from a partner with a joint mortgage means both parties remain legally responsible for payments until the property is sold or refinanced. The house can be sold openly, or one partner can buy the other out.
Under New Zealand's Property (Relationships) Act, assets are typically split equally for relationships over three years. Couples can opt for a different arrangement with a 'contracting-out' agreement. An unequal split may be chosen to ensure fairness, especially for children's stability.
What happens to the mortgage when you separate?
What is the law around dividing up relationship property?
Does shared property have to be split equally when you break up?
Why would someone agree to less than half the house in a break up?
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