News and Helpful Articles

Are you leasing the premises from which you run your business? The Landlord may require you to enter into a commercial lease recording the terms on which the premises are leased. Typically the following details are included in a commercial lease: The name of the landlord and the tenant. The name of the guarantor. The landlord may require you to personally guarantee the lease. A description of the premises to be leased. Whether car parks are included in the lease. The ter

Many people take comfort in having a will that expresses their final wishes, believing that upon their death the instructions they have set

With the desire to provide for their children long after they are gone, we are often approached by clients wanting to know the “safest way” to give assets to their child without it potentially becoming relationship property. In a qualifying relationship, relationship property is divided between the parties when the relationship comes to an end. When transferring an asset to your child who is in a relationship, it is highly likely that the asset will be converted into relati

Family trusts were once seen as the ultimate tool for asset protection. Many asset holders believed that by establishing a trust and transferring their assets into it, they could protect wealth from rest home care fees and reduce tax liabilities. However, the landscape has changed significantly. Changes in Gift Duty and Rest Home Care Subsidy Since gift duty was abolished in New Zealand, the amount that can be gifted to a family trust without being considered a deprivation of

A second mortgage is a loan which is secured by mortgage to the title of a property behind another mortgage (known as the first mortgage). The second mortgage comes second to the first mortgage in priority, meaning that, in the event the mortgagor (the borrower) defaults and the property secured by the mortgage is sold, the second mortgagee will only receive payment if there are funds left over after the first mortgagee is paid. While the popularity of a second mortgage saw

Buying a home is often the biggest financial commitment many people will make. With Auckland property prices remaining high, first home buyers are increasingly turning to alternative ways to get onto the property ladder—such as buying with friends or relying on a family guarantor. Buying Property with Friends or Family One common option is to purchase property jointly with friends or family. In these cases, co-buyers are typically registered as tenants-in-common , either in e

Water easements give one landowner the legal right to take and convey water (including pipes, pumps and related equipment) over someone else’s property. Easement terms are recorded on the title and can affect use of the land. It’s important to understand the easement’s rights and obligations when buying, selling or granting access for water supplies.

Vacant possession means the property is handed over free from tenants, occupants and personal items not included in the sale. Vendors must give tenants proper notice and remove goods and rubbish before settlement. If vacant possession isn’t provided, settlement can be delayed and buyers may take action under the agreement.

In our life time we all manage to establish something whether it be a property, a business or simply even savings, we still have interests that we would like to see protected. The easiest way to do so is to make sure you have a valid Will. Your Will is one of the most valuable legal documents you’ll create. Your Will sets out your wishes for how your affairs are to be managed after you are gone. A Will provides for the executors who are nominated by yourself to carry out wis

Planning a funeral used to be a taboo topic, but dying is a natural part of life that eventually touches us all. Have you ever asked yourself, “What if I pass away suddenly?” Would your family know what to do? Who would take charge of organising your final farewell? Who has all your important personal details—like your date and place of birth, or those of your spouse and children? Who needs to be contacted? Having recently helped organise a funeral for a friend’s spouse, I ca

Tenancies in New Zealand typically fall into two categories - residential or commercial. It is important for a landlord to understand the difference between the two. A residential tenancy refers to a tenancy where a property is being rented to live in. Residential tenancies are governed by the Residential Tenancies Act 1986 (“RTA”). The terms of a residential tenancy are ideally recorded in a Residential Tenancy Agreement signed by the landlord and tenant. In contrast, a co