What is a contract? A contract can take different forms, some are verbal, some written, some are formal and some informal. Irrespective of the format a contract essentially comprises of some common elements: you make someone an offer they accept it and you promise to give something or do something in return for what you’re [...]
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All posts in category LEGAL TIP of the Week
Purchasing a property at a mortgagee sale? Tips and Traps.
The risks associated with purchasing a property at a mortgagee sale. In previous articles and legal tips we have covered the differences in purchasing a property at auction as apposed to negotiating for a property using the Standard Sale and Purchase Agreement through a real estate agent. Mortgagee auctions differ again in that these types [...]
Posted by Auckland Law Firm, Quay Law on 02/11/2011
http://aucklandlawfirm.co.nz/2011/11/02/purchasing-a-property-at-a-mortgagee-sale-tips-and-traps/
Property Law – Options when purchasing a new home or property!
When purchasing a residential property, you can either purchase the property in your personal name/s or in another entity, for example a family trust. Family trusts have asset protection and numerous other advantages and are often used to own property. The abolition of gift duty from 1 October 2011 now makes it even more attractive [...]
Posted by Auckland Law Firm, Quay Law on 07/10/2011
http://aucklandlawfirm.co.nz/2011/10/07/property-law-options-when-purchasing-a-new-home-or-property/
Family Trusts – Gift duty is to be abolished with effect from 1 October 2011.
Gift duty is to be abolished with effect from 1 October 2011. This will have a practical impact and effect on people with existing family trusts, and also for those contemplating the establishment of a new family trust. For any enquiries that you may have in this regard, contact Auckland law firm Quay Law on [...]
Posted by Auckland Law Firm, Quay Law on 06/09/2011
http://aucklandlawfirm.co.nz/2011/09/06/family-trusts-gift-duty-is-to-be-abolished-with-effect-from-1-october-2011/
New Zealand Gifting and Trust Law – Gift Duty changes as 3rd bill passed in Parliament
Gift Duty Abolished Wednesday, 17 August 2011, 8:59 pm Article: ParliamentToday.co.nz Auckland law firm, Quay Law’s trust lawyers have been monitoring the progress of this legislation change. We are able to bring you this breaking news. Gift Duty Abolished – Third reading of bill passed in Parliament. The committee stage of the Taxation (Tax Administration [...]
Posted by Auckland Law Firm, Quay Law on 17/08/2011
http://aucklandlawfirm.co.nz/2011/08/17/new-zealand-gifting-and-trust-law-gift-duty-changes-as-3rd-bill-passed-in-parliment/
Property Law – a detailed property inspection report prior to your purchase can save you costly repairs in the future.
An interesting story aired on TVNZ One news tonight regarding home buyers being stung by “hidden” defects in properties. In particular the story focused on plumbing defects that have been in existence for a while and lurk beneath the surface and are largely undetected in your basic pre purchase property inspection report. That extra couple [...]
Posted by Auckland Law Firm, Quay Law on 14/08/2011
http://aucklandlawfirm.co.nz/2011/08/14/property-law-%e2%80%93-a-detailed-property-inspection-report-prior-to-your-purchase-can-save-you-costly-repairs-in-the-future/
Considerations prior to signing a Sale and Purchase Agreement on your next Property Transaction
Often our property lawyers at Quay Law NZ receive calls regarding conditions to include within an Agreement for Sale and Purchase of a property. It is advisable to consult with your property lawyer prior to signing the agreement however it should be noted that on the fall of the hammer at a property auction the [...]
Posted by Auckland Law Firm, Quay Law on 26/07/2011
http://aucklandlawfirm.co.nz/2011/07/26/considerations-prior-to-signing-a-sale-and-purchase-agreement-on-your-next-property-transaction/
