When undertaking a major unit title redevelopment, you must first obtain the consent of all owners materially affected by the redevelopment. Then pass a special resolution (designated resolution) agreeing to the new unit plan (section 68(3) of the Unit Titles Act 2010 (“UTA”)).
If you are selling or plan to sell unit title property, we recommend you take a close look at the warranties you agree to provide.
Unit titles have their own idiosyncrasies so it’s worth taking time to understand how they operate if you’re buying one for the first time.
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.
Are you a property developer mid-way through your apartment build? Have you decided not to apply for an exemption to the new OIO requirements (and save the $25,500 fee)? You might want to consider encouraging your buyers to nominate this month.
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.
Debra Dorrington went along to the Environment Court to listen to a case that will impact significantly on people who own cross lease properties.
Time lapse video of our office on settlement day. Bonnie Warburton’s behind the scenes glimpse at five crazy days. Attempting to settle 270 apartments on one day is no easy task and not for the faint hearted. Whilst the pressure of the SugarTree settlement at times was enormous, the satisfaction at the end…
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…
On Monday 16th October our team handled settlements for close to 250 apartments and 30 carparks. This huge piece of work was undertaken for property development client, SugarTree. It is the second stage of a three phase development which bridges the suburbs of Ponsonby, Grey Lynn and Freemans Bay with the hub of the inner…
What’s not to love about modern user-friendly legislation? Nearly a year ago the need to set up Incorporated Societies in order to manage communal facilities on a property development, became a thing of the past. Incorporated Societies have their place but they require a minimum of 15 members, a common seal and are governed…
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…