In July this year Inland Revenue released a policy document
setting out changes to the treatment of lease inducement
payments. Those changes were to have effect to inducements
payable on leases entered into on or after 26 July 2012. As a
result of feedback and consultation, Inland Revenue announced
changes to the initial proposal last week.
By Kay Keam - 2 Oct 2012
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The transitional period for body corporate rules expires on 1
October this year. If you are in a body corporate which existed as
at 20 June 2011 then your existing rules will automatically be
replaced with the minimalistic default rules under the Regulations
unless you and your other owners pass new rules and give notice to
LINZ (our land registry).
By Kay Keam - 14 Sep 2012
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As consumers we all want to get the best deal, particularly when
we're house hunting. Negotiations between buyer and seller can get
intense and every last penny becomes critical. You'd rather
pay a little extra for the house than spend it on conveyancing
costs, right?
By Louise MacCallaugh - 24 Aug 2012
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Lisa Gerrard was interviewed by Auckland Today as part of their
'leaky building' feature. Lisa commented on the biggest challenges
facing owners of leaky buildings and the steps home owners should
take if they suspect they may have a leaky home.
By - 20 Jul 2012
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If you're planning on signing an Agreement for Sale and Purchase
in the near future there are changes you need to be aware of.
The changes are particularly relevant if you're buying or selling a
unit title.
By Kay Keam - 6 Jul 2012
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Many insurance policies contain exclusion clauses which seem
wide-reaching enough to bar many claims. However, a recent High
Court decision underlines the need to carefully examine the effect
of those clauses.
By - 25 Jun 2012
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Last week's announcement that the OCR will remain unchanged is
good news if you're looking to purchase a new home ... provided you
can find a house to buy! Reports of limited residential housing
stock are rife, creating a fertile environment for vendors to
achieve premium prices. However, it is also a time when
purchasers may be tempted to take additional risks in an effort to
secure a property.
By Louise MacCallaugh - 15 Jun 2012
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Some buyers believe that if they sign an agreement to buy a
property which is subject to "solicitor's approval" they
automatically have a "get out of jail free" card. A
solicitor's approval clause cannot get you out of an agreement if
you suddenly discover something about the property that you don't
like and you decide you don't want to buy it.
By Louise MacCallaugh - 9 Mar 2012 - 1 comment
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The Unit Titles Act 2010 requires owners of unit title
properties to have a long term maintenance plan. Owners of separate
units may wish to opt out of this obligation by passing a special
resolution. This requires at least 75% of owners to agree. If a
special resolution is passed then each owner becomes responsible
for the maintenance of their own unit only and there will be no
obligation to have a long term maintenance plan and fund. Owners
may also opt out of the Act's requirement for an independent
auditor by passing a special resolution.
By Kay Keam - 11 Aug 2011
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The Unit Titles Act 2010 comes into effect on 20 June 2011. This new Act makes sweeping changes to the previous unit titles regime. We will highlight the most important of these changes over the next few weeks.
By Kay Keam - 10 Jun 2011
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