Land Transfer Act 2017

A new tool for developers

An act that has underpinned our land transfer system for 60 years was put to bed and the Land Transfer Act 2017 became effective. That change may not impact on you daily, but some things will impact on how you complete your developments in the future.

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Overseas Investment Act Amendment

The Overseas Investment Amendment Act 2018

From 22 October 2018 (or potentially earlier if we have orders in Council to that effect) the sale of residential land in New Zealand to an overseas person will potentially require consent from the Overseas Investment Office. Denise Marsden looks at the law change from the residential developer’s viewpoint.

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Future-proofing the legal design of subdivisions

There is a lot of discussion around the physical design of subdivisions and how that impacts the community that is created and the ultimate owners’ use and enjoyment of the land. The legal design is just as important.   Recent agreements I have reviewed for some new developments cause me concern as to what we…

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Is a 10% deposit reasonable ?

A deposit amount is a matter for negotiation between the parties. Whilst the customary figure is 10% it need not always be the rule. The Auckland District Law Society and Real Estate Institute of New Zealand Agreement for Sale and Purchase template (ADLS Agreement) provides that a vendor can retain a maximum 10% deposit when…

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How many lots?

It is critical to draft society rules and land covenants correctly. In this case we look at how a proposed subdivision of a lot on a residential development, lead to High Court examination of a society’s rules. Example case The High Court was asked to issue a declaratory judgement by an Incorporated Society. It wanted to…

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Information collection – the impact on property developers

IRD numbers You will have read of the upcoming changes in the law – that affect the sale and purchase of land.  These come into effect on 1 October.  If the buyer is an individual or a couple buying their main home in their own name and they are not an "overseas person" they are…

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