by Debra Dorrington | Sep 29, 2015 | General property Law, Sale and Purchase
Next year lawyers will be required to retain tax on sale proceeds and pay the tax straight to the Inland Revenue Department. They will need to do this when: • an off-shore person (some Kiwis will be caught) • sells residential land • they have acquired since...
by AlexanderDorrington | Sep 29, 2015 | General property Law, Sale and Purchase, Subdivisions
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...
by AlexanderDorrington | Sep 22, 2015 | General property Law, Leasing, Unit Titles
Body Corporate 401803 (the 103 Tremont apartment complex in St Lukes, Auckland) has recently been to the Court of Appeal. At issue was the validity of guarantees given by the body corporate to third parties under leases of 3 units – the manager’s apartment, the...
by AlexanderDorrington | Sep 22, 2015 | General property Law, Unit Titles
The Quays Body Corporate in Auckland (Body Corporate 198900) was recently before the High Court trying to get a declaration that the awnings erected by various bars that occupied the ground floor units should be removed at the cost of those owners.As the Court noted...
by Denise Marsden | Aug 19, 2015 | General property Law
It is proposed to make the profits on sales of residential property taxable if sold within two years of acquisition, subject to certain limited exceptions. There will be no “purpose” or “intention test” to determine whether profits are...
by Debra Dorrington | Mar 10, 2015 | General property Law, Leasing, Subdivisions, Unit Titles
In the past, proxies were commonly used in the unit title setting. Developers would provide for them in sale contracts. Property managers would include them in leases of serviced apartments. It gave the developers and the managers the opportunity to control...
