by AlexanderDorrington | Oct 19, 2010 | Sale and Purchase, Subdivisions
Common areas and the requirement to become a member of a society or a shareholder in a company have been popular means of managing residential subdivisions over the last decade. They necessitate compliance with the Securities Act 1978 although an exemption from...
by Debra Dorrington | Oct 19, 2010 | General property Law, Sale and Purchase
Vendors registered for GST who signed a contract for the sale before 1 October 2010 and for whom settlement has not yet occurred may find some comfort in section 78 of the Goods and Services Tax Act 1985. That section makes it clear that where the GST rate is changed...
by AlexanderDorrington | Oct 18, 2010 | General property Law, Unit Titles
The UTA2010 requires 3 disclosure statements to be given by the seller of a unit to a buyer of a unit. These are:• The pre-contract disclosure statement – to be given before an agreement for sale and purchase is entered into • The...
by AlexanderDorrington | Oct 18, 2010 | General property Law
The long awaited LAQC reforms have finally been released. The gist is that LAQC owners will be given the option to become a new “look-through company” where profits & losses will flow to owners or transition to a sole trader, partnership or limited partnership. If...
by Debra Dorrington | Oct 18, 2010 | General property Law, Sale and Purchase
The warranty was that “all obligations under the Building Act 1991 were fully complied with” as at the date possession was granted. Although the warranty only applied if the vendor had done works, a recent case has shown that the reach of the warranty may be further...