A recent Court of Appeal decision highlights the need for anyone selling a property to be very careful about the statements they make to a potential purchaser.
Ever since the first major Christchurch earthquake, homeowners’ insurance has never been far from the headlines – and, nearly nine years down the track, householders need to be right across the fact the goalposts are still moving.
A unit title is a form of property ownership where you own your unit, but the common areas are owned by the body corporate. This ownership structure is common in high-rise apartment blocks.
The Queenstown Lakes District Council announced changes to short-term visitor accommodation rules, covering the likes of Airbnb, for certain zones earlier this year – but that didn’t account for all properties.
It might be more than 40 years old, but recent research reveals a concerning lack of understanding still prevails around who gets what under the Property (Relationships) Act 1976 in the event of a break-up or one partner dying.
Generally speaking, GST on a property sale and purchase between two GST-registered entities results in a ‘GST neutral’ position for both the seller and the buyer. It’s essential that the sale and purchase agreement contains the correct wording, particulars and information in respect of the GST position of the parties to the agreement.
Contributions by family members to the purchase of a property and how this is recorded can affect property ownership. We discuss how you can help your children and, at the same time, lessen the risks to you as parents.
