Selling off the plans – what’s new

For the first time in a very long while pre-sale contracts for residential properties are hitting the market.  Residential developers and their banks have been keeping a low profile these last few years but things are beginning to change.  Changes in the law means there are some new things to look out for in agreements…

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Maintenance and Unit Titles

As 1 October 2012 approaches there is a big issue looming in addition to sorting out your rules.  It’s the change in the maintenance regime.  Not so much the compulsory requirement that a body corporate have a long term maintenance plan, which everyone seems to be on top of.  Rather the fact that the body corporate becomes…

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Changing rules – what does it mean to me?

By 1 October 2012 new body corporate operational rules are required under the Unit Titles Act 2010.  Most bodies corporate have started to prepare replacement rules. There are a number of things which are now covered elsewhere, not in the rules.  These include AGMs, elections, voting, insurance and maintenance responsibilities.  The new rules will focus…

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What is material?

Historically anyone making changes to a unit title development needed either to complete a redevelopment plan or to cancel the unit title plan and start again. Both options needed unanimous consent from all of the owners. Things are different under the Unit Titles Act 2010 but there are still steps to be satisfied.  Some of them are…

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What is material?

Historically anyone making changes to a unit title development needed either to complete a redevelopment plan or to cancel the unit title plan and start again. Both options needed unanimous consent from all of the owners. Things are different under the Unit Titles Act 2010 but there are still steps to be satisfied.  Some of them are…

Details

What is material?

Historically anyone making changes to a unit title development needed either to complete a redevelopment plan or to cancel the unit title plan and start again. Both options needed unanimous consent from all of the owners. Things are different under the Unit Titles Act 2010 but there are still steps to be satisfied.  Some of them are…

Details

What is material?

Historically anyone making changes to a unit title development needed either to complete a redevelopment plan or to cancel the unit title plan and start again. Both options needed unanimous consent from all of the owners. Things are different under the Unit Titles Act 2010 but there are still steps to be satisfied.  Some of them are…

Details

What is material?

Historically anyone making changes to a unit title development needed either to complete a redevelopment plan or to cancel the unit title plan and start again. Both options needed unanimous consent from all of the owners. Things are different under the Unit Titles Act 2010 but there are still steps to be satisfied.  Some of them are…

Details

What is material?

Historically anyone making changes to a unit title development needed either to complete a redevelopment plan or to cancel the unit title plan and start again. Both options needed unanimous consent from all of the owners. Things are different under the Unit Titles Act 2010 but there are still steps to be satisfied.  Some of them are…

Details

Defective Titles 3 – 0

There have been a spate of recent cases about requisitions.  That is, purchasers objecting to defective titles.  This can be relevant to any agreement for sale and purchase of land, but it is especially relevant where there is a pre-sales contract for land or apartments. The two most recent cases concerned covenants that were registered…

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Improvements rent percentage – Can landlords recover some of their costs?

 The aftermath of the Christchurch earthquakes has given rise to a number of commercial and legal issues for landlords and lawyers. From insurance questions, to rental abatement, access and questions of untenantability, the earthquakes have left their mark on the commercial property market. One such leasing issue which is likely to become increasingly significant is…

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Residential Developers and Building Amendment Bill (No.4)

Building Amendment Bill (No.4) had its first reading in parliament on 1 May 2012.  The bill, if passed, will significantly enhance the consumer protection measures for building work.  This article focuses on the consumer protection insofar as residential developers selling off the plan are concerned. Buyers currently have a set of implied warranties that a…

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