Kiwisaver can be a great cash injection for your first home purchase. However many purchasers aren’t sure how the process works, resulting in frustration, delays and even not being able to access your Kiwisaver fund. This article explores how Kiwisaver works in practice and what you need to know.
Recently the media has given some attention to circumstances where an owner of property has (or would have but for a settlement reached) been able to modify a land covenant using the provisions of s317(1) of the Property Law Act 2007 (PLA). In most instances, if you have a land covenant registered against the title to your property, it is there forever and cannot be modified or extinguished. This article looks at recent cases attempting to modify land covenants.
This article covers things you need to know on the Taxation (Bright-line Test for Residential Land) Act 2015 in relation to residential property acquired and disposed of within 2 years.
Changes to a Unit Title after the title has been created is classed as a redevelopment. Redevelopments are a lengthy process, this article outlines what and who is needed to change the plan.
Do your homework before purchasing – that is the message which has been reinforced in a recent case which came before the High Court. In Shabor Ltd v Graham, the purchaser of a large farm in the Waikato sued the vendor for misrepresentation under the Fair Trading Act after the purchaser discovered that the farm did not hold the stock numbers advertised in the marketing material.
Unit titles are becoming more popular and more complex as we see limited greenfield space available for housing, and limited funding for greenfields infrastructure, making infill an easier and more efficient land use option. This article looks at the basics of forming a unit title development from a fee simple section.
Buying a house is one of the biggest purchases you will ever make, so it is important to be protected. Too often we see sale and purchase agreements in our offices that leave potential buyer’s stuck purchasing a home that…
Further restrictions on Landlord and Mortgagees’ rights have been announced and although those changes are still to be enacted it has been indicated they will apply retrospectively. In this article, Laura Fischer sets out the proposed changes to the Property Law Act 2007 which will extend the time periods for compliance with a default.
Purchasing a property with other people requires careful consideration and completing a property sharing agreement when you purchase a property can minimise problems in the future. Parties are often on the best of terms initially, but with any shared ownership, disputes can occur later. Completing a property sharing agreement where all owners record their expectations in relation to ownership and use of the property can be invaluable.
There are checks which you should do before purchasing land especially if you intend to build on the land. You may find that the council rules, land covenants or the cost of foundations prevent you from building the house of your dreams or the building that you require for your business. This article gives a brief overview of the checks you should consider completing when buying land.