You've got your deposit, you've found the right property, now a
multi-page document is sitting in front of you and a real estate
agent is asking you to sign. It is imperative that you get in touch
with a lawyer before you enter into an agreement. The best chance
of you negotiating favourable terms is before you
sign. This is even more important if you are planning on buying a
property "off the plans" that has not yet been subdivided or built.
More information about buying off the plans is available in a
previous blog.
By - 10 Sep 2019
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The Employment Relations (Triangular Employment) Amendment Bill
has passed its third reading in parliament and will come into force
by at least 27 June 2020. The Bill allows for a "controlling third
party" to be joined to a personal grievance claim in the Employment
Relations Authority. This means that an individual employee can
bring a claim against both their 'official' employer and any other
controlling third party.
By Claire Mansell - 4 Sep 2019
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In 2015 the Court of Appeal told landlords they could not
recover the cost of damage caused by their residential tenants
unless it was done intentionally. This was because the Property Law
Act 2007 said that a landlord could not require a tenant to meet
the cost of damage which can be insured against. From 27
August 2019 the Residential Tenancies Act 1986 dictates the law on
this issue.
By Mathew Martin - 28 Aug 2019
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The Property (Relationships) Act 1976 determines what is
and is not "relationship property" and which assets should be
divided equally between de facto partners and spouses on
separation. It also defines "separate property" as assets owned by
one partner alone and not to be shared equally. But in a country
with the highest number of trusts per capita in the world, what
happens if your assets are held in trust?
By Telise Kelly - 18 Aug 2019
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Recent changes made to the Overseas Investment Act 2005
(Act) meant that overseas persons who
are not ordinarily resident in New Zealand will not be able to
acquire residential properties in New Zealand, unless an exemption
applies.
By Steven Lee - 13 Aug 2019
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Not all building projects run smoothly and for one reason
or another, there may be a point where building work is suspended.
Should the building project end up in that position, both parties
to the building contract have obligations and there are a number of
matters to consider.
By Pierce Bedogni - 7 Aug 2019
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On Wednesday the much anticipated Trusts Bill finally
received the Royal tick of approval and officially became an Act of
Parliament. Pursuant to section 2, the provisions of the Act will
come into force on 1 February 2021. This is probably the most
significant change to trust law in the past thirty years or
more.
By Emma Foster - 1 Aug 2019
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Perhaps too little attention is paid by overseas buyers to
the Overseas Investment Act ( Act). A
matter of poor due diligence or sheer ignorance could cost hundreds
of thousands, if not more.
By Steven Lee and Genelle Seah - 29 Jul 2019
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For many people trying to purchase their first home,
getting together a deposit is often a daunting thought that may
seem unattainable. There are, however, a number of resources that
you can tap into to help get you to that ever important point where
you can move from paying your landlord's mortgage to paying your
own.
By - 23 Jul 2019
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When buying off the plans, there are a number of extra
terms and conditions which need considering before signing an
agreement. We discuss a few of these below.
By - 15 Jul 2019
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