Tenancy law changes

Big changes here for boarding house owners (and those looking at acquiring boarding houses in the run up the Rugby World Cup).  They will now be subject to the Residential Tenancies Act in a number of scenarios.  For example, boarding house owners will now need to give 28 days notice that a tenancy is being…

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Review of Land Transfer Act

No major policy changes are expected here.  It’s more about modernising the Act to reflect how land transacstions are actually done now.  There are 24 areas for change identified. 

Unit Titles Act 2010

The Department of Building and Housing has published a Unit Titles Amendment Bill consultation document dated 20 November 2012.  They are seeking views on some proposed amendments to the Act and Regulations.  Written submissions are due by 1 February 2013.  The review is only intended to address minor and technical issues with the Act. A…

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The Way We Were

Certificates of Title Remember when you bought a property and the lawyer gave you a handwritten title on paper that was thick and waxy and felt really important?  You could see the history of the land you were buying from the many entries on the title.  It was treasured and when it wasn’t kept at the…

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When can a purchaser discount the purchase price?

There has been a very important Supreme Court decision relevant to all people using the standard form ADLS/REINZ agreement for sale and purchase, whether for residential or commercial deals.    The facts Property Ventures Investments Limited v Regalwood Holdings Limited concerned the sale and purchase of a commercial property in Christchurch for $1.5m.  The standard…

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Body Corporate Levies

Traditionally body corporate levies have been based on unit entitlements.  A unit entitlement is reflective of the value of one unit, compared to the value of others within the development.  Once set, they have always been extremely difficult to change and that inflexibility has caused unfairness in sharing costs amongst body corporate members.  The costs for a lift…

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Commercial Property Management

Currently there is plenty of live debate about the role of the property manager in the commercial sector.  Lots of individuals have long term experiencing with managing commercial buildings, negotiating leases and working alongside real estate agents.  Despite protestations, it sounds like they are now caught by the Real Estate Agents Act.  And it sounds like for many of…

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Venture capital start up – “ground up” legal structure

Many new business are founded on great ideas.  Often, they find an “edge” or niche in the market that others have not thought of yet.  This is the role of entrepreneurs.  They invariably need help creating a “ground up” legal structure.  The structure will vary depending on the size and sophistication of the business.  A…

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Unit Titles Update

The new Act is not yet in force as the regulations are being finalised.  We expect it later this year or early next.  Those involved in unit titles will need to be ready as the transitional arrangements are concerned only with the body corporate rules and maintenance.  We have set up a discussion group on…

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Reasonable time for completion of a subdivision

 What a Court considers a reasonable time for completion of a subdivision might be longer than you think! For example, it might be perfectly reasonable for a developer to defer applying for a resource consent until zoning issues are resolved. Making time of the essence for the performance of an obligation is a tool for use to…

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Resource Management Act Changes

In October last year the promised streamlining of the Resource Management Act came into effect. Perhaps all of the property developers had already gone to ground, or perhaps it was because the need for change had been so long in the coming that the fanfare wasn’t great. There wasn’t a lot of noise about the…

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Unit Titles Bill

The Unit Titles Bill is slowly working its way through. Hopefully we see a new Unit Titles Act this year because it is definitely needed. The second reading of the bill was completed on 16 February 2010. The bill now goes to the Committee of the Whole House. We will keep an eye on developments.…

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