GE Image Gallery 133

Publication: InBrief

  • Changes to terminology in the new Land Transfer Act 2017

    30 January 2019

    While the main principles of the land registration system have been retained, the Land Transfer Act 2017 (the new Act) revises and modernises the Land Transfer Act 1952. The new Act  does this by adopting a range of reforms proposed by the Law Commission in its 2010 report.New terminology introduced under the new Act will require amendment to the ADLS-REINZ approved forms including the agreement for sale and purchase for land. Some of the changes to terminology under the new ...

  • The differences between an indemnity and guarantee

    30 January 2019

    The differences between a guarantee and an indemnity are often overlooked and underappreciated. Indeed, it is not uncommon for people to mistakenly view the two obligations as synonymous.In commercial transactions, parties are often asked or required to provide a guarantee, an indemnity, or both. These types of obligations can usually be found in everyday commercial contracts such as supply agreements and loan documents.It is, therefore, important to understand and appreciate what the differences are between a guarantee and an indemnity ...

  • Residential Land or Not?

    30 January 2019

    Amendments to the Overseas Investment Act 2005 (OIA) that restrict certain overseas people from buying “residential land” in New Zealand came into force on 22 October 2018.The effect of the amendments is to require overseas persons to obtain consent from the Overseas investment Office (OIO) under the OIA before they can buy residential land in New Zealand. The requirements are:the agreement for sale and purchase must be conditional on OIO consent, and OIO consent must be granted before settlement; or a pre-approved ...

  • Am I in a de facto relationship?

    30 January 2019

    Many of you will remember the news a few months ago about a man (Moon) being awarded a sum of money after his partner (Doyle) left him nothing but her ashes in her will. The news provoked discussions on whether Doyle’s will should have been respected, or whether it was fair Moon was awarded a portion of Doyle’s estate because Moon looked after Doyle for some 27 years (she was wheelchair-bound from early in the relationship due to a medical ...

  • Do I really need to sign a deed of lease?

    30 January 2019

    You have found the perfect premises for your business, and you sign up an agreement to lease drafted by the landlord’s agent. The agreement to lease is unconditional, and you are about to move into the premises when you are asked by the landlord to sign a deed of lease.What is the difference between an agreement to lease and a deed of lease?The agreement to lease and the deed of lease are different documents. An agreement to lease sets out ...

  • Which Rules Apply?

    30 January 2019

    It goes without saying that the Auckland Unitary Plan (AUP) is a complex document, but it seems that even the Auckland Council (Council) can have difficulties interpreting it.The AUP establishes a series of overlapping rules for zones, overlays, precincts, and controls as well as Auckland-wide rules. Knowing which rules apply to a particular site and activity is not always easy, even for those familiar with the AUP. This complexity was brought home by declaration proceedings in the Environment Court (Court).The ...