Property briefs
In this edition’s property brief we look at: Updates to the ADLS Agreement – important for buyers and sellers; Building in the Covid landscape; Harsh CCCFA provisions relaxed.
Property
Not sure of your boundary?
All property owners, whether commercial or residential, must ensure that any structure on their property is located within its legal boundaries.
Resource consents
The Resource Management Act 1991 places restrictions on how your land can be used; this is done by the issuing of consents. If you are a property owner, or you lease premises to operate your business, we explain the various types of consent that you may come across from time to time.
Property briefs – Summer 2021
The country is now out of its second lockdown with Auckland and parts of the Waikato in Level 3 with the rest of the country sitting at Level 2. Given the current uncertainty with how we can get on top of the Delta strain outbreak, let’s have a look at where this leaves us and our property dealings across differing alert levels.
Caveats
The Latin word ‘caveat’ literally translates to ‘let him beware’. In a legal sense, caveats are generally used to protect the proprietary rights of the person registering the caveat by stopping the registered owner of the property from transferring, mortgaging or otherwise dealing with the property.
Disputes in contracts
Welcome to the Summer 2021 edition of Property Speaking, and the last issue for the year.
Lease vs licence
Leases and licences are common contractual arrangements. Although both are similar, there are crucial differences between them which can have significant implications for anyone who owns or occupies commercial premises.
Property briefs – June 2021
The big ticket items of the government’s recent housing package included the extension to the bright-line test as well as landlords no longer being able to offset their tax with interest paid on their rentals.
Clarity around fixtures and fittings
In December 2020, a commercial landlord and their tenant found themselves in the High Court arguing about who was responsible for replacing fixtures and fittings because their lease was silent on the issue. These types of disputes around fixtures and fittings in commercial leases are quite common.
Recent property tax changes
In March 2021, the government announced three changes to property tax rules that are likely to affect anyone with residential property investments. The changes include extending the bright-line period from five years to 10 years, changing the main home exemption ‘test’ and removing the ability to deduct mortgage interest from rental income.