Armstrong Murray

  • About us
  • People
  • Expertise
  • Information
  • News
  • Contact
    • Commercial Law

Can your partner claim a share in your business?

July 16, 2020

Couple working on their business togetherCan your partner claim a share in your business if you break up?

If your relationship falls under the Property (Relationships) Act*, they would likely be entitled to 50% of your business if:

  • You started or purchased your business during the relationship; or
  • Your partner worked in the business or invested in it.

Moving your business into a family trust won’t necessarily protect it. The most effective way to protect against this type of claim is a Contracting Out Agreement (a.k.a. a prenup).

*A marriage, civil union or de facto relationship generally falls under the Act after three years.

Note: This post is brief and general in nature. You should not treat it as legal advice and should seek professional advice before taking any action in relation to the matters dealt with in this post. Armstrong Murray accepts no liability for losses suffered by any person or organisation who may rely directly or indirectly on this post.

Filed Under: News, Personal law

KEY EXPERTISE

  • Commercial law
  • Property law
  • Litigation
  • Trusts, Estates & Asset Protection
  • Notary Public Auckland

09 489 9102
law@armstrongmurray.co.nz

Subscribe to our email newsletter

How would you like to hear from us?
View Terms & Conditions
* indicates required
Facebook

Copyright © 2021 Armstrong Murray | Website by Webbuilder Ltd | RESOURCES | HOME

  • About us
  • People
  • Expertise
  • Information
  • News
  • Contact
    • Commercial Law
MENU
  • About us
  • People
  • Expertise
  • Information
  • News
  • Contact
    • Commercial Law
We use cookies to help us improve and promote our services. By continuing to use the site, you accept the terms of our privacy policy.OKRead more