THE FAMILY HOME

Otago Daily Times, Issue 27513, 6 October 1950, Page 8

THE FAMILY HOME

Joint Ownership Plan

SECURITY FOR SURVIVOR IN CASE OF DEATH PA WELLINGTON, Oct. 5.

Legislation enabling a man and his wile to establish a family home with the assurance that it will belong -to both of them jointly and pass to the survivor in the event of the death of one of them was introduced in the House of Representatives tonight. This provision is contained in a Joint Family Homes Bill which implements one of the main planks of the National Party’s election policy. The family home can be established in the terms of the Bill up to a value of £4OOO. To encourage the adoption of the new scheme, provision is made that, provided the settler is solvent at the date of the settlement, the settled home shall be protected against the claims of creditors to the extent of £2OOO. To the same extent it will also be exempt from death duties when it passes on the death of one of the beneficiaries to the survivor. There is exemption from gift duty and stamp duty on the creation of the settlement to the extent of £4OOO. In the event of divorce or separation, the court may determine who is to have possession of the home. It may alternatively direct its eale or lease or cancel the registration of a joint family home certificate. Disputes regarding a joint family home are to be determined by the courts.

The Attorney-general, Mr Webb, said he was proud to introduce the Bill, which it was hoped would do something to increase the sanctity of family life. He had no wish to exaggerate, but everyone must deplore the amount of domestic unhappiness evident today. Something might be lone to arrest this trend by . enabling spouses to. settle their home on their two selves.

Mr W. Nash (Oppn., Hutt) said (here were already thousands of cottages held jointly by husband and vife, which automatically went to the ,vife on the husband’s death without any stamp duty up to a value of £SOO. This provision had been included in the operation of the State Advances Corporation for many years. The only additional provision in the Bill seemed to be the one that would >nnefit the widower if the wife died Srst.

Mr Webb acknowledged that joint tome ownership had existed for many rears, but under the present joint ownership there was nothing to prerent either party selling the property. Jnder the Bill now introduced, the amilv home could be sold only jointly ty husband and wife. The Bill was read a first time.

The Post Office VHF radio-telephone ervice for mobile units continues to jxpand. Twenty-one communication hannels are now in operation, providag wrvice for 477 mobile units.