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…

Details

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…

Details

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…

Details

Warranty vs due diligence

On 28 March 2007 Mr and Mrs Singh, experienced orchardists, signed up to purchase a lemon and kiwifruit orchard in Glenbrook.  The standard form of agreement for sale and purchase of real estate was used.  A due diligence clause was inserted, giving the purchaser 5 working days to satisfy itself as to a "due diligence…

Details

What if Council information is wrong?

I once heard a story about a property developer who purchased a property for residential redevelopment.  Integral to the due diligence investigations was a LIM which clearly identified the location of services.  Services were in a convenient position to enable redevelopment and the developer in our story proceeded in reliance on the Council records he had…

Details

What if Council information is wrong?

I once heard a story about a property developer who purchased a property for residential redevelopment.  Integral to the due diligence investigations was a LIM which clearly identified the location of services.  Services were in a convenient position to enable redevelopment and the developer in our story proceeded in reliance on the Council records he had…

Details

Property Council Manifesto – Fast Forward to Growth

 The Property Council New Zealand recently released its manifesto Fast Forward to Growth.  It is easy to read, focused on commercial property and aimed at encouraging growth, productivity and investment.  Key points it advocates include: • A national policy on development contributions. • Development contributions assessed to reflect the benefits achieved by the development. • Giving developers the…

Details

What if Council information is wrong?

I once heard a story about a property developer who purchased a property for residential redevelopment.  Integral to the due diligence investigations was a LIM which clearly identified the location of services.  Services were in a convenient position to enable redevelopment and the developer in our story proceeded in reliance on the Council records he had…

Details

What is quiet enjoyment?

The right of a lessee under a commercial lease to quiet enjoyment is implied in the majority of leases.  The implied covenant is a limited guarantee that the lessee can occupy the premises without interruption or disturbance from the lessor, or persons through whom the lessor derives title or persons who claim through the lessor. …

Details

Unit Titles – 8 months on

The Unit Titles Act 2010 has been in force for over 8 months now.  Most bodies corporate have had their first AGM under the new Act and made the necessary decisions.  The next key date is 1 October 2012.  By this date: new body corporate rules are needed final decisions are needed on responsibilities for…

Details