A property is not only the largest asset people usually purchase in their life, but its the place you call home… so here is how we have helped a client get their children into the property market.

Our clients were Mum and Dad, their son John, and his wife Jane.  Mum and Dad wanted to help John and Jane buy their first home.  They contributed 10% of the purchase price, John and Jane used their Kiwisaver savings, and all of them borrowed the balance of the purchase price from the Bank.  We helped John and Jane with their Kiwisaver withdrawals, arranging the loan and mortgage with the Bank, and completing the conveyancing for the purchase of the house.  

We prepared a property sharing agreement between the parties, with Mum and Dad owning a 10% share, and John and Jane owning a 90% share.  John and Jane have the right to occupy the property, and must pay the outgoings including the mortgage repayments.  The agreement sets out how any disputes are to be resolved.

We also advised John on a relationship property agreement with Jane.

Finally, we prepared wills for all four of our clients.

John and Jane are now happily living in their new home.  Mum and Dad are pleased to have been able to help them, and to make a good investment at the same time.