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.
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.
What happens to rural property when relationships break down?
When the Personal Property Securities Register (the PPSR) was established in 1999, most businesses were quick to catch on that it was a good idea to register security over goods that were sold under a line of credit. What wasn’t so easily recognised is that the register was designed to also capture leases of goods that are indefinite or extend past one year.
Three tips to protect yourself from property related problems
How to avoid buying a property with insurance problems, how to protect your property title from unwanted searches, and how to avoid a hefty expense when selling a cross lease property with an altered flat plan. Here are the answers.
Rental properties: what happens when tenants don’t pay?
Rental properties are an excellent source of income if you need extra money, want to pay off your mortgage faster or save for your retirement… unless your tenant doesn’t pay their rent. If this happens, property lawyers advise you to take a deep breath and follow the appropriate steps to get rent payments back on track. These are the steps you need to take.