Buying a house is a stressful process in itself, but if you’re competing for a purchase in a seller’s market, which has been the case for some time, the pressure can be intense. If you’ve felt the impulse to make a snap decision, or made an offer without due diligence, we want you to imagine the stern look on your lawyer’s face when you hand over the paperwork.
Loan documents: do you read the fine print?
How many of us actually read the fine print when signing a document? The old adage suggests we should and with good reason. If you run a farming operation, it’s very likely that you’ll need to borrow funds from one of New Zealand’s main trading banks. It’s also vital that you read the fine print to avoid some unpleasant surprises. Here’s a summary in larger, easier to read print.
The low-down on Farm Management Plans
As you’ll be aware from our article What does the Clean Water Package mean for farmers, raising the water standards in our rivers and lakes is going to have an impact on farm management. The government has charged the regional authorities with the job of implementing the water standards policy.
Your legal obligations as an Airbnb host
As a follow up to our article about the tax implications for renting your accommodation as a holiday home, we’re taking a look at your legal obligations to your lender, insurer and local authority.
Why you should talk to a lawyer before you buy property
Buying a house is a stressful process in itself, but if you’re competing for a purchase in a seller’s market, which has been the case for some time, the pressure can be intense. If you’ve felt the impulse to make a snap decision, or made an offer without due diligence, we want you to imagine the stern look on your lawyer’s face when you hand over the paperwork.
Caution required: three common scenarios with big consequences
In these property briefs, we have three situations which seem straightforward, but often aren’t, which can land the unwary in hot water. We take a look at the implications for landlords when tenants sell their business, what those boxes mean on Agreements for Sale and Purchase, and the difference between ‘joint tenants’ and ‘tenants in common.’
Do you really want to be a trustee for life?
All trustees have tasks and duties that have to be performed on a regular basis, even in small family trusts. It’s a burden of responsibility nobody can reasonably be expected to bear for life. This raises questions. When is the right time to walk away? What happens if an ageing trustee is no longer mentally competent? Here are the answers.
What you need to do to retire as a trustee
If you’ve agreed to act as trustee for a friend, family member or another entity, you’ll be aware that signing up is a relatively easy process. However, retiring as a trustee is not as straightforward. There’s an important process to follow to ensure there are no future problems for you or the trust.
A practical approach to trusts
The Trusts Bill introduced on the 1st August this year updates the Trustee Act 1956 and reflects decisions made about trusts in common law. It also provides solutions for issues that have been facing lawyers and trustees for some time.
Four more hazards to note…
In these briefs, we have four updates on topics which also present potential risks and hazards for the unwary: new health and safety legislation coming into effect, claims against rural contractors, lease disputes, and bobby calf regulations. Make sure you’re familiar with these four points before they catch you unawares.
Fire!
Last year’s fire that spread through areas forested with pine trees was a good wake up call for people living in rural Hawke’s Bay. You need to prepare for fire danger.