What is a LIM (Land Information Memorandum)?
Posted in: Residential Property
A LIM is a record of information on a property held by the local authority and includes rates details, any building consents granted, notices relating to the property or neighbouring ones, flood, erosion and contamination risks.
Many Sale and Purchase Agreements have a clause relating to a LIM so your lawyer can consider the LIM before the agreement goes unconditional.
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