Affidavit Of Assets And Liabilities Template for New Zealand

An Affidavit of Assets and Liabilities is a sworn legal document that provides a complete and accurate declaration of your financial position. Under New Zealand law, this affidavit must comply with strict legal requirements and can be used as evidence in court proceedings. You are legally bound to provide truthful and comprehensive information about all your assets and debts, as making false statements can result in perjury charges.

When do you need this document?

You will typically need to prepare an Affidavit of Assets and Liabilities when facing legal proceedings that require financial disclosure. Family court proceedings, particularly those involving relationship property division under the Property (Relationships) Act 1976, commonly require this document. If you are applying for bankruptcy or facing insolvency proceedings, the Official Assignee will require a detailed affidavit of your financial position. The document is also necessary when applying for legal aid, settling deceased estates, or when creditors are seeking information about your ability to pay debts. Trust disputes and business partnership dissolutions may also require you to swear this affidavit to establish your financial interests.

Key legal considerations

You must ensure complete accuracy when preparing your affidavit, as it becomes a legal record that can be used against you if found to contain false information. All assets must be disclosed, including real estate, vehicles, investments, bank accounts, business interests, and personal property of significant value. Your liabilities section must include all debts, mortgages, credit cards, loans, and contingent liabilities such as guarantees you have provided. Property valuations should be current and obtained from qualified valuers where significant assets are involved. You must also disclose any recent transactions that may appear to hide or transfer assets, as these could be scrutinized by the court or creditors. Remember that joint assets and debts must be clearly identified, showing your share or interest in each item.

Legal requirements in New Zealand

Under the Oaths and Declarations Act 1957, your affidavit must be sworn or affirmed before an authorized witness such as a Justice of the Peace, Commissioner of Oaths, or solicitor. The document must follow the prescribed format required by the High Court Rules 2016, including proper jurat clauses and witness certification. For family court proceedings under the Family Proceedings Act 1980, specific disclosure requirements apply, and you may need to update your affidavit if your financial circumstances change significantly. The Property Law Act 2007 governs how real estate interests must be described and disclosed in your affidavit. When preparing the document for court proceedings, ensure it complies with the relevant court rules regarding format, annexures, and supporting documentation. Professional legal advice is recommended to ensure compliance with all applicable laws and court requirements.