Whether you own a house or are about to purchase a house you need to be aware that insurance companies have moved away from “total replacement” house insurance policies to “total sum insured” policies. What does this difference mean? Under the total replacement policy it was relatively easy for house […] Read More›
Property
The Court of Appeal has just confirmed the decision of the High Court, enforcing a conditional contract which was carelessly drawn up. This case [Arcadian Homes Limited (in liquidation) v More to this Life Limited & Others] involved a Sale and Purchase Agreement for a Wanaka property and was conditional […] Read More›
Sellers of unit title properties are now required to provide mandatory pre-contract and pre-settlement disclosure to prospective buyers. This marks a shift away from the principle of “caveat emptor” or “buyer beware” which has traditionally governed the buying and selling of real estate in New Zealand. Pursuant to the new Unit […] Read More›
Under the new Unit Titles Act 2010 (“UTA 2010”) every body corporate is required to establish and regularly maintain a Long Term Maintenance Plan. The Long Term Maintenance Plan must cover a period of at least 10 years from the date of the plan or the last review of the […] Read More›