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Publication: Body Corporate Business

  • Land Transfer Act 2017

    5 December 2018

    The Land Transfer Act 2017 came into force on 12 November 2018. It repeals and replaces the Land Transfer Act 1952. The 2017 Act updates and modernises the earlier legislation.The key changes for bodies corporate and unit owners are:New terminology, “record of title” replaces certificate of title and computer unit title register unique identifier, “burdened land” and “benefitting land” replace servient tenement and dominant tenement respectively. This may affect some statutory forms in the Unit Titles Regulations 2017; and Amended identification ...

  • Do you have a Quorum?

    5 December 2018

    Who gets counted when establishing whether a general meeting has a quorum?This question was considered by the High Court in Singh v Body Corporate 207605 [2018] NZHC 2872. The case relates to an application for leave to appeal a decision relating to unpaid body corporate levies (in earlier judgments, Body Corporate 207605 successfully sought to recover unpaid levies from Ms Singh, a unit owner). As part of her application for leave to appeal, Ms Singh argued that one of the ...

  • Overseas Investment Act – Amendments have legal effect

    1 November 2018

    Amendments to the Overseas Investment Act 2005 (OIA) that restrict certain overseas people from buying residential land in New Zealand reported in our September newsletter came into force on 22 October 2018.The new provisions affect the purchase of land that is rated as a residential or lifestyle property (residential land). This includes apartments, townhouses, and standalone dwellings in use unit title developments.The effect of the amendments requires overseas persons to obtain consent from the Overseas investment Office (OIO) under the OIA ...

  • All for One and One for All?

    1 November 2018

    The allocation of costs for significant repairs to unit title developments can be a very contentious issue. A recent decision of the Court of Appeal in Gu v Body Corporate 211747 [2018] NZCA 396 provides further guidance for bodies corporate and unit owners.The case relates to a mixed use building in Eden Terrace, Auckland. A reinstatement scheme under section 74 of the Unit Titles Act 2010 (UTA) had been settled by the High Court in October 2011 to provide for ...

  • Sale of Common Property

    3 October 2018

    Does your Body Corporate have surplus land? If the answer is “yes,” then we can look at whether the sale of common property is a possibility for your body corporate.There are two ways, processes, in which the sale of common property can be achieved. The first is where part of the common property is sold, and a new principal unit or accessory unit within the same body corporate is created.The second is where part of the common property is sold and ...

  • Changes to Overseas Investment Act

    3 September 2018

    Changes for overseas persons purchasing residential land are imminent.The Overseas Investment Amendment Bill (OIA Bill) passed its final reading in Parliament on 15 August 2018. It is likely to come into force soon: in or around October 2018.The OIA Bill introduces a new category of sensitive land, which overseas persons will require Overseas Investment Office (OIO) consent to purchase. This new category of sensitive land is “residential land”. And, residential land is defined as land that has a property category ...