Overseas Investment in Sensitive NZ Land
The Overseas Investment Act 2005 provides that a transaction needs consent when there is an overseas investment in sensitive land. What is sensitive land? What type of property transaction is caught?
Overseas Investment – Who can buy residential land in NZ without the need for consent?
In light of the changes to the Overseas Investment Act 2005, there has been a lot of discussion about who cannot buy residential land in NZ now. Denise Marsden looks at it another way, considering who can buy residential land in NZ without consent.
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.
What type of bond is best for your construction project?
There have been a couple of recent decisions concerning bonds under construction contracts. They remind us it’s important to know what kind of bond you are dealing with.
Interpreting repair and maintenance covenants in leases entered after 1 Jan 2008
Repair and maintenance obligations in commercial leases have featured in a number of recent cases. Denise Marsden takes a close look at one…
Lease renewal – was the lessee entitled to relief?
A lease is more than a contract. It creates an estate in land. Even when a lessee does not follow a renewal process properly or where there are other questions around a renewal right, the Court more often than not finds in favour of the lessee…
Bright Line Test extended from 2 to 5 years
The Bright Line Test was introduced as part of the Taxation Act 2015. It requires income tax to be paid on any gains from residential property that is disposed of within two years of acquisition, subject to some exceptions.,,
Have your say on changes to the Overseas Investment Act and Residential Development
You will have seen media reports of expected changes to the Overseas Investment Act. They implement the government’s plans to restrict the sale of houses to people who are not New Zealanders. The submission period has been extended and submissions close 16 February 2018, so there’s time to have your say if you would like…
Easing the way for drones
Commercial uses for drones Dr Catherine Ball, is a world leader in the non-military application of drone technology. She highlighted some really important issues for property owners at The Property Council New Zealand National Conference in Melbourne13-15 September. Firstly it’s important to note that there are all sorts of drone use beyond delivery…
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…
Unit Titles Review 2017
Just before Christmas MBIE announced a review of the Unit Titles Act 2010 and published a discussion document. Submissions on the proposals were due 5pm Friday, 3 March 2017. Many submissions have been made, including one from us that looks at the changes predominantly from the developer’s perspective. The items subject to review include the…
Developers and Retentions under Construction Contracts
We have mentioned previously that the rules relating to retentions under contracts covered by the Construction Contracts Act 2002 are changing. From 31 March 2017 retention money withheld under commercial construction contracts must be held on trust. This is intended to apply only to contracts entered into or renewed on or after 31 March (presuming…