How do compensation claims affect property settlements?
A recent High Court decision, Reid v Omana North Limited [2026] NZHC 92, provides clarification on how clause 10 of the ADLS/REINZ Agreement for Sale and Purchase (“the Agreement”) operates when purchasers pursue a compensation claim. The case arose from the collapse of a $3.4 million Auckland apartment purchase, with disputes centring on settlement timing, […]
The New Standard: Key changes to the Agreement for Sale and Purchase of Real Estate
The Law Association (“TLANZ”) and the Real Estate Institute (“REINZ”) have released a new version of the standard Agreement for Sale and Purchase of Real Estate(“ASPRE”) and the Sale of Real Estate by Tender (“SRET”). The new ASPRE and SERT addresses changes to New Zealand’s privacy landscape under the Privacy Amendment Act 2025 (“PAA”), which […]
Property Owners view preserved through court upholding covenant
A recent High Court decision has prevented the potential subdivision of a property at St Arnaud, near Nelson. The decision highlights the ‘roadblock’ effect land covenants can have, particularly where the proposed development has the potential to cause injury to neighbouring landowners. In Beechnest (2014) Ltd v Marshall [2023] NZHC 519, Beechnest, a property developer, purchased two […]
Rent payment in time saves nine: court gives reminder of the consequence of putting off rent
With increasing financial pressure on businesses and individuals alike, the High Court’s recent judgment in James Ward Trustee Company Limited v Jarm[1] (“James Ward”) serves as a reminder of the importance of prioritising paying rent and the consequences of failing to do so. Background to the case James Ward concerned 3 sublessees who failed to pay rent over […]