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We're separating and our assets are all in trust. Does that mean I get nothing?

We're separating and our assets are all in trust. Does that mean I get nothing?

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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Exemption certificate granted under the Overseas Investment Act 中文翻译版本

Exemption certificate granted under the Overseas Investment Act 中文翻译版本

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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Issues to be considered when work is suspended on a building project

Issues to be considered when work is suspended on a building project

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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The long awaited Trusts Bill receives Royal assent

The long awaited Trusts Bill receives Royal assent

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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Overseas buyer ordered to sell sensitive land

Overseas buyer ordered to sell sensitive land

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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First home purchaser series - Part 1: The deposit

First home purchaser series - Part 1: The deposit

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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Buying off the plans - properties that don't yet exist

Buying off the plans - properties that don't yet exist

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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Banks and Disclaimers and the Little Guy

Banks and Disclaimers and the Little Guy

Do you feel that the law always seems to favour the Banks (the big guys) against the little guy? In Court, the Banks are always well funded and have technical arguments readily available to them. All, however, is not lost. The recent Court of Appeal decision in Bushline Trustees struck a blow for the little guy.

By Tony Johnson - 9 Jul 2019

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Protecting your assets - assisting children purchasing property

Protecting your assets - assisting children purchasing property

Your child has found the property of their dreams, but they are a little short on their deposit so you decide to help them out. Before transferring the money, it is essential you talk to us about protecting your contribution.

By - 8 Jul 2019

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Apartment exemption certificate granted by the OIO

Apartment exemption certificate granted by the OIO

Martelli McKegg is pleased to announce its recent achievement of securing an Exemption Certificate for the Jervois and Lawrence Apartments development in Herne Bay for the maximum permissible percentage on 27 June 2019. Steven Lee and his team supported the developer through the process of the application for the exemption.

By Steven Lee - 28 Jun 2019

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