The Trusts Act 2019 was passed into law in 2019 but becomes operative on 30 January 2021. The time in between remains critical as we all review the changes outlined. Existing best practice around trust law, together with the thinking and documentation dovetailed into...
During these unprecedented times with COVID-19, the term mortgage free holiday has been heard more now than ever. As many New Zealanders’ incomes have been negatively affected, which can make it difficult to meet mortgage payments (amongst other payments), a mortgage...
Land covenants place rights and obligations on the land/property you own. It is an instrument that is registered on a record of title for a property that runs with the land, which creates a legal obligation to do, or not to do, something in respect of the...
The Residential Tenancies Amendment Act 2019 (“RTAA”) was passed on 30 July 2019 and came into effect on 27 August 2019. The RTAA addresses key issues that have implications for both landlord and tenant including: tenant liability for damage, insurance statements,...
Purchasing a property at auction – what you need to know When purchasing a property, there are generally two ways in which you can achieve this. The first, the traditional offer method, is by offer and acceptance of a signed Agreement for Sale and Purchase between the...
When trustees act for a discretionary trust, they have a primary duty to act for, and in the best interest of the beneficiaries. Consequently, any benefit received under the trust is provided at the discretion of those trustees. Trustees of a discretionary trust have...
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