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Archive | Legal
Webinar – management rights, management issues and developers
Posted on 26 November 2012.
In early December we will run our first webinar of the Property Developer Webinar Series. It is free and will take place on Wednesday 5 December at 12:30pm. It will be of interest to those involved with management rights – primarily developers, current managers or possible purchasers of management rights.
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Unit Titles Act 2010
Posted on 22 November 2012.
The Department of Building and Housing has published a Unit Titles Amendment Bill consultation document dated 20 November 2012. They are seeking views on some proposed amendments to the Act and Regulations. Written submissions are due by 1 February 2013.
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Council’s new duty of care – Part 2
Posted on 12 November 2012.
Buller District Council and Swordfish Co Limited, a property developer, have been before the High Court a couple of times debating whether or not the council owes a duty to take reasonable care in issuing its s224 certificates and registering consent notices.
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UTA 2010 – searching the register, enduring proxies, chairperson and transition
Posted on 07 November 2012.
The Auckland High Court recently considered an application from Lihua Limited, against Body Corporate 366611, Theta Management Limited and BCS Limited.
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Council’s new duty of care – Part 1
Posted on 05 November 2012.
On 11 October 2012 the Supreme Court held that council owe a new duty of care. It has come about from the litigation about the Spencer on Byron development, which is leaky. The court by a 4-1 majority has held that the Court of Appeal was wrong to allow the strike out of the claim against council.
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Complusory Zero Rating
Posted on 14 September 2012.
A recent proliferation of webinars on the new agreement for sale and purchase and GST has raised some interesting points. Zero rating will still apply to the sale of a taxable supply but the sale and purchase of land now requires the parties to examine their GST positions and determine whether the transaction is compulsorily zero rated.
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Taxing lease incentives – changes on the way
Posted on 14 September 2012.
The government’s measures to increase their tax take through the targeting of the property industry looks set to continue. First we had the erosion of depreciation, followed by the changes to loss attributing qualifying companies. Now the government is proposing to change the way it taxes lease inducement payments.
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Cross-lease vs fee simple
Posted on 30 August 2012.
Fee simple ownership is true exclusive ownership and possession of the land and buildings on it. It’s ownership of what is below and above the ground (as is reasonable). Yes, others do get a say – for example the neighbours might have a say over fences; Council in terms of compliance with the District Plan or the Building Code and there are all sorts of other legal rules that impact your ownership – trespass, nuisance etc. But it’s as good as it gets.
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New agreement for sale and purchase
Posted on 16 July 2012.
We have set out below a short summary of the changes in the new 9th edition. There are some changes specific to unit titles and commercial transactions, which we cover separately. The first section is potentially relevant to all agreements. There is a lot to take in. Some of the changes assist vendors, and some purchasers, so the agreement remains appropriately balanced between the interests of the parties.
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Changing rules – what does it mean to me?
Posted on 11 July 2012.
By 1 October 2012 new body corporate operational rules are required under the Unit Titles Act 2010. Most bodies corporate have started to prepare replacement rules.
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Selling off the plans – what’s new
Posted on 06 July 2012.
For the first time in a very long while pre-sale contracts for residential properties are hitting the market. Residential developers and their banks have been keeping a low profile these last few years but things are beginning to change.
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Conveyancing and sinking funds
Posted on 03 July 2012.
Sinking funds are common in the management of commercial property. Increasingly they need to be considered in residential developments when dealing with the sale and purchase of the property.
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Earthquakes and leases – what to consider
Posted on 29 June 2012.
The sight of the ADLS Fifth Edition 2008(2) commercial lease can bring a feeling of both comfort and familiarity. The ADLS is widely used and understood and is often seen as the form of lease that can ‘get the deal over the line.’ It is generally regarded as a fair lease, and not significantly weighted in favour of either the landlord or the tenant.
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Maintenance and Unit Titles
Posted on 28 June 2012.
As 1 October 2012 approaches there is a big issue looming in addition to sorting out your rules. It’s the change in the maintenance regime. Not so much the compulsory requirement that a body corporate have a long term maintenance plan, which everyone seems to be on top of.
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Improvements rent percentage – Can landlords recover some of their costs?
Posted on 18 May 2012.
The aftermath of the Christchurch earthquakes has given rise to a number of commercial and legal issues for landlords and lawyers. From insurance questions, to rental abatement, access and questions of untenantability, the earthquakes have left their mark on the commercial property market.
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