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Property briefs – Autumn 2021

A warning from Insurance Council of New Zealand: Is your property fully insured? Also, we consider the implications of Stage 2 of the Residential Tenancies Act changes, now in force. Now that it is more difficult to remove an unwanted tenant from your rental property, it is crucial to do your due diligence on a prospective tenant, but be aware of their right to privacy.

Reverse mortgages

Some older homeowners are seeking ‘reverse mortgages’ from their lenders in order to release the growing equity in their property. Here’s what you need to know.

Trustees’ expenses

Trustees’ expenses should be reimbursed, but no need for extravagance. When trustees incur expenses, they are not expected to be out of pocket in carrying out their responsibilities. Trustees are entitled to use trust money or to get a refund from the trust fund if they incur expenses in carrying out their duties.

Raising capital for your business

In 2020, the government introduced a raft of legislation to provide temporary relief for businesses struggling to navigate the effects of the Covid pandemic. Some relief measures, such as the safe harbour for company directors, have already expired, while others will expire this year unless they are renewed.

Over the Fence

Crown Pastoral Land Reform Bill submissions open, the Synlait settles Pōkeno land dispute settlement reached and a reminder that the Trusts Act 2019 comes into effect on 30 January 2021