Check out our latest updates on legal and legislative changes.
Articles Related to Property and Construction
Lease Renewals – Not as simple as you might think…
A right of renewal provides a commercial tenant with the option to enter into a new lease with a landlord when the current lease expires. If a tenant fails to give notice of intention to renew the lease, the risks can be significant. This was the situation in the recent High Court case of Storageone Kapiti (2012) Ltd v Sharja Ltd.
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Should I Establish a Trust?
Trusts play an important role in New Zealand society and its economy. There are an estimated half million trusts existing in New Zealand – and with good reason as trusts, when established and managed properly, provide a valuable long-term asset management structure.
There are a range of reasons to establish a Trust, including flexibility for your family and business. A Trust can be an excellent way to protect and preserve assets while benefitting your business and family members during and beyond your lifetime.
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Property purchasers beware! Rights of way: How to prevent neighbour warfare
A recent case has highlighted the importance of proper due diligence by purchasers in assessing legal title to a property and, more particularly, the effect of any right of way easement affecting the title.
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BEWARE LENDERS: New due diligence duty & fit and proper person certification for directors and senior managers
From 1 October 2021, directors and senior managers of lenders (i.e. a person or business providing credit under a consumer credit contract, including some mobile traders), must comply with new due diligence duties and obligations under the Credit Contracts and Consumer Finance Act 2003 (the “CCCF Act”).
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Mainzeal: Round 2 of 3
The Court of Appeal’s recent judgment in Yan v Mainzeal Property & Construction Limited (in Liquidation) [2021] NZCA 99provides further guidance about the circumstances in which directors in office during a period of balance sheet insolvency will be held liable for breach of directors’ duties under the Companies Act 1993.
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Residential Tenancy changes – A new landscape for Landlords and Tenants
The Residential Tenancies Amendment Act 2020 came into force on 12 August 2020. It changed the landscape for Landlords and Tenants in New Zealand by amending the Residential Tenancies Act 1986 (“the Act”). Whether you’re a Landlord or Tenant, here’s how the changes affect you.
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REINZ/ADLS Agreement for Sale and Purchase – Update 2019
Banking on pulling out of purchasing a property? Not so fast!
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A lifeline for the construction industry? New procurement rules announced
New Zealand’s construction industry is growing rapidly. In recent years, the industry has used a ‘lowest price model’ approach when awarding construction projects. This has led construction companies to cut costs and under cut each other to secure tenders.
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Subbies suck it up again?
On 5 September, Auckland and Waikato-based Stanley Group/Tallwood became the latest in a long line of construction companies to go to the wall. Initial estimates put the amount owed to creditors at $5 million, with individual subcontractors reportedly owed up to $600,000.
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High Court exercises jurisdiction to award non-party costs
A recent decision in the High Court in the case of Minister of Education v H Construction North Island Ltd (in rec and liq) has seen a parent company, uninvolved as a party to the legal proceedings, be ordered to pay non-party costs of over a million dollars.
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