The end of 2019 marked some interesting changes to the widely used sale and purchase agreement, with the new document minimising the opportunity for purchasers to back out of agreements by reason of ‘failure to obtain finance’. The new sale and purchase agreement (“tenth edition”), which...
The Property (Relationships) Act 1976 is legislation which regulates the rights of couples to property owned by them and especially property acquired by each of them during their relationship. The legislation is extensive and deals with all relationships that are generally considered to be a marriage....
A recent decision of the High Court about the danger of burning fires on lifestyle blocks is relevant to farmers. The danger is not only the loss of property, but also the financial liability for putting the fire out. In the New Zealand Fire Service Commission...
In these rather uncertain times for farmers, and especially dairy farmers, I thought you might be interested in the article by Jim Rickards entitled “Three Ways Old Money Hangs Onto Its Riches”. Jim Rickards is an American lawyer with interesting and novel views on investing. I...
Rotorua Lakes Council has responded to the difficult economic condition many dairy farmers are experiencing from the downturn in dairy prices. The council is offering dairy farming category ratepayers the opportunity to defer their first 2015/16 year rates payment, without penalty, until 20th October 2015. This payment...
A recent topical issue that we are coming across more and more is that of meth-tainted homes. We have heard of situations where people move in to a home and then suffer health consequences. When investigating further, they find that the house has been contaminated...
Have you thought about what would happen to your farm business and family if you die or become incapacitated? Would the farming operation be sustainable without you? Would the business need to be sold to repay your debts? Would there be adequate income to support...
The government is introducing two significant reforms that will affect property transactions and rental properties, including those owned by trusts. IRD numbers and capital gains Currently, anyone who buys a property with the intention of selling it for a gain is liable for tax on any gain....
For those of our clients who have an off-farm investment in the form of a cross-lease residential, rental or bach property, this article is for you. Often, there comes a time where you decide that you would like to add another bedroom, extend the living area...
Holding open homes, getting the right price, moving, and finding another property can all be stressful. Before you embark on that process there is one important matter that should be given some serious thought, and that is the terms of the listing authority (or agency...