We Kiwis love our real estate – in my experience, though, there are some who aren’t quite so enamoured with the checks and balances needed when buying a property.
Our ability to access the ‘great outdoors’ in New Zealand is seen as something of a citizen’s right. At times, however, It does conflict with the rights of private landowners when, in order to access the great outdoors, there is a need to cross their private land first.
Most laws tend to have initial bedding-in challenges. In the case of the new foreign buyer legislation, it’s the failure by would-be buyers to complete a crucial new form – an oversight so significant, it’s already derailing sales and causing financial grief.
Invercargill City Council’s decision earlier this year to abruptly close the Southland Museum and Art Gallery shone the spotlight back on earthquake strengthening, and serves as a reminder to all owners and occupiers of commercial buildings of the new laws now at play.
We’ve received several requests lately to provide a heads up on what happens when one property owner damages another party’s land. Where do responsibilities and obligations begin and end, we’ve been asked. And, not surprisingly, the big question: who pays?
Following on from last week’s blog exploring some of the key considerations when buying property, this time we’re looking at some of the important factors vendors have to stay across.
The property market’s never far away from the headlines these days – but whatever the state of the market, properties will still be traded, and the same old legal considerations are just as important to ensuring your interests are covered.
Anyone looking to buy land in New Zealand who is classified as an “overseas person” will need to sign on the dotted line before next Monday (October 22) or, otherwise, be subject to the new foreign buyer rules.
