The Act sets out the rules for how relationship property is divided when a relationship ends or upon a partner’s death. The Act applies to married couples, civil union partners, and de facto partners who have been in a relationship for three years or more.

Relationship property is the property that you and your partner own together. It includes the family home and chattels (whenever acquired), and any other property owned jointly by you and your partner including savings and motor vehicles. Depending on the facts of the situation, it may be necessary to determine whether the property is a relationship property.

A contracting out agreement (also known as a pre-nup) is an agreement that partners can enter to opt out of some or all of the provisions of the Property (Relationships) Act 1976. Contracting out agreements can be a useful way to protect assets that you brought into the relationship, or to inherit in the future.

If you are considering entering into a contracting out agreement, both partners need to be separately represented and seek independent legal advice. The agreement will not be valid unless it is witnessed by each partner’s lawyer and contains certification from these lawyers that they have explained the effect and implications of the Agreement and the Act.

You are not obliged to sign the agreement. You should take it to a lawyer who will review the agreement and advise you what you would be entitled to under the Property (Relationships) Act 1976. You will have to understand your entitlement under the Act and ensure that you are fully informed in every aspect concerning your property before you make a decision.