On 22 October 2018, Labour delivered on its promise to ban foreign ownership of New Zealand residential land. The restrictions in the Overseas Investment Act now apply to all residential land in New Zealand.
Turner Hopkins is pleased to announce the appointment of Phil Shannon as its new Commercial and Property Partner. Phil joined the team at Turner Hopkins in mid-July.
The Government has recently passed new legislation that from
1 October 2015 all persons selling or purchasing residential land are
required to complete a tax statement as part of the transaction.
The financial collapse of Mainzeal Property and Construction will have far reaching effects; redundancies, sub-contractors’ temporary loss of access to their tools of trade, disputes as to the ownership of tools, goods and materials on various building sites, the financial impact on sub-contractors with progress payments and retentions be halted and the flow on effects on investors and associated industries.
Many tenants under commercial leases seek to negotiate a shorter initial term with rights to renew the lease in the future, rather than committing to a long term lease at the outset.
Landlords are often confused as to whether the terms of their lease or the provisions of the Property Law Act 2007 (PLA) prevail when cancelling a commercial lease. It is vital that landlords understand the distinction and cancel a lease correctly to avoid a tenant seeking damages for wrongful cancellation of the lease.
When you enter into an agreement to sell your property, it is almost certain you will be giving warranties to the purchaser. The scope of these warranties can often be underestimated and lead to significant financial woes for the vendor in the event of a breach.
Where a lease term ends either due to expiration of the lease term or an earlier date as a result of a default by the tenant, there are a number of issues that arise for consideration by the landlord and/or tenant.
Thinking about downsizing? With the continuing effects of the economic downturn 'kicking in', interest rates on the increase, and commentators predicting a flat property market, you may be contemplating downsizing, debt reduction or disposing.
A New edition of the standard Agreement for Sale and Purchase of Real Estate has now been produced by the Auckland District Law Society and the Real Estate Institute of New Zealand Incorporated.
There are a number of reasons why a contributory mortgage offers contributors a secure investment which still generates a very fair return for the contributor in today's economic climate.
“John is very easy to talk to, he never makes you feel dumb, and never makes you feel like you are wasting his time for asking questions. He explains everything very clearly, every time. John's support staff are also very efficient and so easy to deal with. No detail is missed when dealing with them. My husband and I are fans of them all :)”
~ Jess
“Joy, we cannot thank you enough for your help with our purchase! You have been wonderful to deal with and so proactive (and patient with my numerous emails). We will be visiting NZ in April so will make sure we drop in to thank you in person.”
~ Mia
“I can't speak highly enough of Jenny. She got everything done in a timely manner and when my ex-husband threw a spanner in the works at the eleventh hour she got the required documentation to his lawyers and settlement back on track.”
~ Tracey
“To Michael Robinson – I wanted to thank you and your colleagues for many years of excellent service to the Bank. You have an outstanding business that has proved to be one of the most reliable and ethical businesses that Collections have dealt with in the almost 9 years I was with the Bank.”
~ Head of Collections
