Category: Sale and Purchase

• 10/5/2012 - Defective Titles 3 - 0
  There have been a spate of recent cases about requisitions. That is, purchasers objecting to defective titles.
• 3/4/2012 - Warranty vs due diligence
  The High Court recently considered whether a purchaser's failure to carry out due diligence prevented them from claiming damages for breach of warranty.
• 23/3/2012 - Have we got the balance right? Is caveat emptor dying a slow death?
  A recent decision requires agents to know precisely what is registered on titles they sell.
• 21/3/2012 - What if Council information is wrong?
  The Supreme Court considers responsibilities for incorrect information in a LIM
• 2/2/2012 - Merry Christmas Mrs Forster
  The tale of the first prosecution under s 141 of the Real Estate Agents Act 2008
• 19/12/2011 - Buying a bach?
  Can you contract on the back of an envelope?
• 11/11/2011 - Pre-auction legal checks
  The majority of residential sales seem to be by auction at present. A reminder about the pre-auction legal checks you should make.
• 3/8/2011 - You snooze, you lose - RMA and the developer
  s225 Resource Management Act, when can a purchaser cancel?
• 3/5/2011 - Compulsory GST zero rating - new GST rules
  From 1/4/11 it became compulsory for certain land transactions to be CZR. The regime will apply to almost all transactions involving land that are made between GST registered parties. There are some limited exclusions.
• 25/3/2011 - New tender form
  There is a new ADLS/REINZ standard form of particulars and conditions of sale by tender.
• 22/2/2011 - Possession: It’s 9/10ths of the Law
  Granting possession before settlement can solve some practical problems but it also raises tricky legal issues
• 19/10/2010 - Subdivisions That Involve Common Areas and Societies
  A recent case illustrates the needs to comply precisely with Securities Act requirements.
• 19/10/2010 - GST A Vendor Can Collect – 12.5% OR 15%
  A useful section in the GST Act enables changes to the price to catch the GST increase.
• 18/10/2010 - Vendor's Warranties
  If you bought or sold a property between July 1999 and 2006 your agreement for sale and purchase likely included a far-reaching vendor's warranty.
• 13/9/2010 - Or Nominee or Not
  What does 'and/or nominee' mean? How does it work? and who has a right to sue for a breach of the agreement terms.
• 23/8/2010 - New Agreement for Sale and Purchase of Real Estate
  The next time you pick up an agreement for sale and purchase of real estate, chances are it will be the latest version (eighth edition 2006(3)) jointly released by the REINZ and the Auckland District Law Society last week.
• 19/8/2010 - Buying a Unit Title
  A list of legal issues to consider when buying a unit title.
• 16/8/2010 - Subdivisions, minimum areas and cancellation of contracts
  A July Supreme Court decision provides useful advice about minimum area clauses for developers/purchasers entering into pre-sales contracts. This case is also useful when considering a breach of an essential term in an agreement for sale and purchase.
• 22/7/2010 - Pre-sales contracts
  What do development funders want to see in pre-sales contracts at the moment?
• 19/7/2010 - The Way We Were
  Looking back at how title searches and registration have changed over the years.
• 2/7/2010 - When can a purchaser discount the purchase price?
  At settlement a purchaser can now elect to discount the purchase price by a fair estimate of the purchaser's loss if the vendor is in material breach of warranty. The vendor cannot insist on settlement in full.
• 29/3/2010 - Independent Trustees - limiting liability
  Independent trustees are no doubt very aware that contracts they enter into with third parties expose them to personal liability, unless there is a clause in the contract limiting their liability.