Buying guide
Refinancing your mortgage after a breakup or divorce
What happens to the mortgage when you separate?
AI summary
Separating with a joint mortgage means both partners remain liable for payments until the property is sold or refinanced. One partner can buy the other out, but they must qualify for a new mortgage on their own.
Under the Property (Relationships) Act, assets are typically split equally after three years. However, a 'contracting-out' agreement allows couples to decide on a different split, which can help one partner keep the family home, especially for the stability of any children.
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?
Authors
Discover More
Historic home saved from demolition and turned into $6m waterfront paradise
A rescued Remuera villa is now a $6m-plus Mahurangi Harbour retreat with rich history and waterfront living.
.jpg)
Spotlight on Canterbury, local property market insights
Trade Me data shows Canterbury defying the property cooldown, with high demand for big homes and great townhouse deals.
