Property
14 December 2010
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Chapman Tripp comments on issues affecting the property sector.
20 December 2011
The inner CBD in Christchurch has been under cordon since the February 2011 earthquake, and is not expected to be fully re-opened to the public until April 2012 – more than a year later. Businesses were required to relocate to alternative, often less adequate, premises outside the CBD in order to continue keep operating. As there was fierce competition for alternative premises, business owners often made relocation decisions quickly - without clarity as to the extent of damage to their existing premises or when it would be possible to return to the CBD. This has put the spotlight on commercial leasing arrangements.
16 December 2011
The Productivity Commission is recommending reform of the development contributions charged by local councils in relation to new subdivisions, including a merits-based review right for developers. The recommendations are included in the Commission’s draft Housing Affordability report, released today. Submissions are due by 16 February 2012.
15 November 2011
Doing Business in New Zealand is a publication designed to provide the prospective investor with an introductory guide to the New Zealand legal framework as it applies to business. This chapter discusses title; contracts for sale and purchase of land; Resource Management Act and district plans; Crown Minerals Act; building works; stratum estates; barriers to buying land; Māori land claims; and minerals.
15 November 2011
Haere mai is Māori for welcome and New Zealand is one of the most open economies in the world. But there are rules and regulations that will apply, and we are familiar with them. This publication is designed to provide the prospective investor with an introductory guide to the New Zealand legal framework as it applies to business.
19 October 2011
The ACCC had a recent win in a “cover pricing” case against a construction company and its managing director: the Federal Court found the company broke the law in providing a cover price to a competing bidder. The director was personally liable as an accessory to the breach. This development is especially important in New Zealand because the Commerce Commission has signalled it is keeping a close eye on construction industry bidding practices. All construction companies, and their directors and managers, should be aware of the risks of cover pricing.
08 September 2011
Important tax relief for property-owners who have sustained property damage in the Canterbury earthquakes is available through legislation passed last week.
This Brief Counsel explains the relevant provisions in the taxation (Tax Administration and Remedial Matters) Act 2011. For specific advice, please contact Chapman Tripp.
27 June 2011
The Housing Affordability paper from the newly-established Productivity Commission identifies a number of issues which have been a longstanding source of irritation to the property development and construction industries. This suggests an opportunity for meaningful reform. We recommend early engagement in the consultation process. Feedback is due by 3 August 2011.
02 June 2011
Chapman Tripp is pleased to congratulate two new Principals from the firm’s Auckland property and litigation teams on their promotions, effective 1 May.
26 April 2011
Chapman Tripp is pleased to announce the appointment of five new Senior Solicitors, and to welcome back Senior Solicitors Jarrod Murphy and Joshua Pringle, who have recently returned to Chapman Tripp from New York.
12 April 2011
A special fast-track procedure will be followed to have the legislation setting up the Canterbury Earthquake Recovery Authority (CERA) passed by Thursday.
This Brief Counsel explains the procedure and provides a brief outline of the Bill's contents. We will send you a link to the Bill immediately it is available.
04 April 2011
From 1 April 2011, the GST rules for “land” have changed. Contracts for the sale of land need to be amended to deal with these changes.
What began as a move to crack down on “phoenix” frauds has resulted in GST being effectively turned off for supplies between registered persons involving land. But this comes with significant compliance requirements.
This Brief Counsel explains what you need to know before entering into agreements under the new rules.
14 February 2011
Chapman Tripp is pleased to announce the appointment of three new Partners, one Consultant and one Senior Solicitor, effective from 1 December.
14 December 2010
Parliament has passed fit-out pool legislation that will allow owners of commercial buildings to deduct 15 percent of the cost of their buildings as a proxy for the cost of fit-out in certain circumstances.
23 November 2010
Not happy with the dispute resolution procedures in the Construction Contracts Act 2002? The Department of Building and Housing has released a discussion document exploring a range of issues with the adjudication provisions in the Act and is calling for submissions by Thursday, 16 December. This Brief Counsel summarises the five key reform proposals.
12 May 2010
The Supreme Court is clear: where the vendor is in breach of a warranty not significant enough to allow cancellation of the contract, property purchasers can discount from the purchase price a fair estimate of the purchaser’s loss. The purchaser is not entitled to defer settlement, nor obliged to settle in full. This Brief Counsel examines the case and its implications.
21 April 2010
Over the last 20 years, unit title owners have been burned by unscrupulous property developers and indifferent property managers and held to ransom in the body corporate by recalcitrant minorities. The Unit Titles Act 2010 is designed to deal to these problems. It is complicated, having 204 provisions compared to just 64 for the 1972 legislation.
18 March 2010
The Government has invited feedback on proposals to improve the Building Act 2004. Submissions can be made online, by email, fax, post or courier. The deadline is 23 April 2010. This Brief Counsel summarises the key recommendations in the review.
20 January 2010
A Court of Appeal ruling released just before Christmas in relation to land held under the Public Works Act (PWA) by Auckland International Airport Ltd provides new certainty to other public landowners. The Court has upheld a shift in the interpretation of section 40 of the PWA by the High Court in 2008. This Brief Counsel comments on the significant features of the Court of Appeal's decision.
30 November 2009
Cabinet has rescinded the Land of Potential Interest Process, which governed and restricted the disposal by Crown entities and State Owned Enterprises (SOEs) of land with special values. Responsibility for protecting those values is now vested with the agency holding the land, rather than a process involving Land Information New Zealand and Cabinet. This Brief Counsel looks at how the new regime will work.
07 September 2009
The reviews into the Building Act 2004 and the Licensed Practitioner Scheme are a chance to get rid of some of the bureaucratic hassle and expense associated with building consents. This Brief Counsel provides a user-friendly guide to both reviews.
01 September 2009
Significant problems attach to the new standard form sale and purchase agreement produced by the Real Estate Institute of New Zealand. Unless and until these are resolved, we strongly recommend that you continue with the ADLS form. This Brief Counsel examines some of the issues behind our “don’t use” recommendation.
05 June 2009
Companies may need to review their delegated financial authorities to catch up with the implications of the shift earlier this year to mandatory electronic dealing through the Land Transfer Act regime.
21 April 2009
The Unit Titles Bill has important implications for all those with an interest in unit title developments. In our view, the changes go a long way toward addressing the problems in the current badly-outdated regime but there is scope for further improvement.
24 March 2009
Submissions on the Unit Titles Bill (the Bill) close on 24 April. The Bill has important implications for all those with an interest in unit title developments – owners, bodies corporate and their managers, developers, landlords and tenants. In our view, the changes go a long way toward addressing the problems in the current badly outdated regime but there is scope for further improvement.
04 March 2009
The acquisition of lifestyle blocks by overseas persons in New Zealand is governed by the Overseas Investment Act 2005 (Act) and the Overseas Investment Regulations 2005 (Regulations). This article explains who qualifies as an "overseas person" and outlines how the Act impacts the acquisition of lifestyle blocks by such persons.
13 February 2009
New Zealand is unusual in not having a capital gains tax and there is a developing view that the tax system and our economy may be the weaker for it.
12 December 2008
Investor confidence in leasehold property, particularly in the Auckland residential market, is at an all time low after a series of rent reviews over the past 12 months. But although the ground lease is down, it would be premature to call it out.
06 August 2008
The owners of land held under the Public Works Act 1981 may have greater security of investment and discretion over land use as a result of a High Court decision in relation to Auckland International Airport.
05 January 2008
The Property Law Act 2007 came into force on 1 January 2008. Amongst some restatement of existing law in (largely) modernised language, there are also changes that could significantly impact on fundamental day-to-day aspects of business.
06 December 2007
The new Property Law Act 2007 comes into effect on 1 January 2008. While a lot of the provisions in this new Act are a codification and clarification of the common law and the various property rules that are part of current practice today, there is no doubt that the thrust of some of the more significant changes is a measure to protect the position of tenants.