by AlexanderDorrington | Oct 19, 2010 | Sale and Purchase, Subdivisions
Common areas and the requirement to become a member of a society or a shareholder in a company have been popular means of managing residential subdivisions over the last decade. They necessitate compliance with the Securities Act 1978 although an exemption from...
by Denise Marsden | Sep 13, 2010 | General property Law, Subdivisions
Does land need to be insured? In most funding we do lenders do not insist on this. Most developers have contract works cover in place whilst involved in constructing infrastructure on the land (often through the contractors), but once...
by Denise Marsden | Aug 16, 2010 | Sale and Purchase, Subdivisions
The Supreme Court decision in Mana Property Trustee Limited v James Developments Limited gives some useful advice about minimum area clauses which developers/purchasers entering pre-sales contracts should consider. This case is also...
by Debra Dorrington | Jul 26, 2010 | General property Law, Subdivisions
It is not uncommon to see encumbrances registered against titles. They are a tool used when a landowner has an obligation to someone like an incorporated society or a neighbour. An encumbrance might require that a landowner: join an association, maintain some...
by Denise Marsden | Jul 22, 2010 | General property Law, Sale and Purchase, Subdivisions
We recently have been involved with development funding with one of the main banks. The requirements for the pre-sales contracts included: • Purchasers needed to be NZers (residents or citizens) and independent third parties • Each purchaser could only acquire one...
by AlexanderDorrington | Mar 29, 2010 | Subdivisions
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...
