Property Conveyancing – What is the difference between a Condition and a Warranty?

Ph: (09) 523-2408

Ph: (09) 523-2408

Conveyancing: Condition or warranty?

Often determining whether something in a property contract is a condition or a warranty can be difficult.

As a high level definition:-

A condition is when a party to the sale and purchase agreement has to do something by a specific date, failing which the property contract may fall over.

A warranty is a promise to do something (but does not always specify the date it must be done by), where failure to do so will result in a breach of contract.”

Our legal tips do not substitute for legal advice tailored for your circumstance.  The Quay Law, Auckland property lawyers and conveyancing team recommend you discuss you property sale and purchase agreement with a conveyancing specialist prior to signing the legal and binding contract.

http://www.lawyerinauckland.co.nz/contacts.html

Conveyancing – Dating the Agreement for Sale and Purchase of Property

Auckland law firm Conveyancing, family trusts and relationship agreementsConveyancing – Dating the  Agreement for Sale and Purchase.
Our conveyancing lawyers’ advice for all parties to a Sale and Purchase Agreement is to always make sure the agreement is dated once it has been signed and initialled by both the purchaser and the vendor.

The dating should occur once all initials are completed, and this is especially relevant if there has been an offer and counter-offer situation.

For more information regarding your property purchase or sale please contact the Auckland law firm team at Quay Law.

Quay Law  is an approachable commercial, trust and property (conveyancing) law firm based in Remuera, Auckland, New Zealand.  The experienced conveyancing staff and lawyers at Quay Law enjoy working with a diverse range of successful companies and private clients.  Our approachable lawyers offer legal services such as conveyancing, leasing, family trusts, wills, asset protection, tax matters and more.  http://www.lawyerinauckland.co.nz

Conveyancing insight shared by your Auckland Lawyers

 

Quay law auckland law firm and lawyers for conveyancing and property transferBuying a property at an auction or on a tender

Our property lawyers at Auckland law firm Quay law are able to review the legal documents for you.

It is extremely important to remember that once you have signed the agreement, a legally binding contract comes into force with the ensuing legal obligations.

Our conveyancing legal team will review the property title, the particulars and conditions of sale and, if provided, the LIM. A charge shall apply for this review.

If you are successful in purchasing the property and you elect to use our legal services for your property transaction, we will credit this amount against your conveyancing or property transfer fee.  For more information or to discuss your property law or conveyancing requirements please contact one of our Auckland lawyers.

Trusts – The Administering of a Trust.

Administering a Trust

Quay Law Auckland lawyers and law firm for trusts formation and trustee support

Shared by the team at Auckland law firm – Quay Law NZ

Why do you need your trust to be properly administered and how do you do just that?

Once your trust has been established it is very important that it is administered correctly. Your trust was established with the objective of separating ownership of your family’s assets from you personally.

As Trustees you can go a long way to avoiding a successful sham Trust allegation being made out if you undertake an Annual General Meeting.

During this meeting a schedule of assets and liabilities of the Trust should be completely analysed.  The needs of the beneficiaries of the trust should be reviewed and should any maintenance be required on any of the Trust assets, these should be listed along with who will be instructed to carry out such a maintenance program.  But most importantly, this meeting should be minuted with a copy of the minutes dated and signed by all Trustees.  The trust should meet its income tax obligations such as filing a tax return if the trust receives any income

Who could bring about such a challenge?  Such a challenge could be made by a business creditor, relationship partner, the IRD or Work and Income New Zealand. If such a challenge is successful then the trust assets could be treated as your own personal assets and the benefits available through the trust structure will be lost.

To call Auckland law firm Quay Law to arrange your Annual General Meeting for your Trust or for general Trust and Family Trust advice. (09- 5232408)

The legal tips are provided by the Auckland lawyers and conveyancing specialists at Quay Law NZ. These law tips cover a range of legal topics and cover all legal matters from estate planning, to wills and estate administration, tax and IRD matters, residential and commercial conveyancing and property law, family trusts. social media law, leasehold properties, commercial leasing and much more. Although the law firm is situated in the Auckland suburb of Remuera  we are able to support clients overseas and across New Zealand.  

New Zealanders still crave slice of suburbia

Shared by the lawyers at Auckland Law firm Quay Law. Source: herald.co.nz. April 2013

The “suburban dream” of living in a standalone home is still alive and well – a finding that could harm Auckland Council’s push for more terraced housing.

As the council looks at how to deal with the city’s growing population and housing crisis under the Unitary Plan, a study it commissioned on current housing intensification could be damning.

Residents from medium density developments in three city suburbs were interviewed about their living conditions as part of Auckland University’s Future Intensive: Insights for Auckland Housing.

Most of the 84 participating households said their way of living was just temporary and for affordability reasons.

“The aspiration of living in detached suburban housing remains strong for both New Zealand-born and new New Zealanders,” the report said.

“The aspiration for suburbia, no matter how unrealistic, is a barrier to the promotion of a compact city that needs to be better understood.

“We need to better understand what the necessary trade-offs are between the suburban lifestyle, whether affordable or not, and the urban lifestyle envisaged for a majority of future Aucklanders.”

It added: “If living in these newer developments is viewed by residents as a transitory stage in their lives, then there are implications for developing the vibrant, liveable, community-orientated local environments promoted in the plan.”

Many of the residents still remained car dependent and public transport was being under-used. Body corporate issues were also problematic with functions not well understood by a large proportion of residents.

Generally, residents were satisfied with their living arrangements – most said the housing offered a sense of security and they were pleased with the proximity to shops, schools, work and other facilities.

Auckland has a deficit of 20,000 to 30,000 houses and needs to average 13,000 new homes a year for the next 30 years to cope with the growing population.

Under the Unitary Plan, 56 per cent of Auckland land – from Orewa in the north to Pukekohe in the south and most suburbs in between – is earmarked for “intensification”, under which building density will be increased.

The council’s chief planning officer, Roger Blakeley, told the Herald the plan still allowed for people wanting to live in standalone homes, and the council was dedicated to giving Aucklanders a “greater flexibility of choice” whether they were looking for a townhouse, apartment or detached home.

When asked about whether attitudes needed to change towards medium density housing, he said: “Different people have different experiences and attitudes.

“In some people’s minds, they judge apartment living by the poor examples around Auckland … we are keen to see high-quality exemplars that will help change people’s minds.”

Mayor Len Brown said one in four Aucklanders already lived in apartments or terraced housing and that demand was growing.

“Aucklanders are clear they want more housing choice not less as our city grows.”

Real Estate Institute chief executive Helen O’Sullivan said leaky buildings had steered people away from developments.

“It is still very much the Kiwi dream … you’ve got your own yard, it has a fence. You can have a dog and a cat and a sandpit. There are different stages in life where that sort of thing is less appealing.”

Downsizing suits couple

Howard and Sherrill Dickie left their big backyard and swimming pool in Blockhouse Bay for an attached townhouse and haven’t looked back.

The retired couple, both in their 70s, wanted to downsize after their three children left home, so they invested in the Tuscany Towers development on Ambrico Place in New Lynn.

They wanted to stay in the area to look after their respective widowed mothers.

“We love the convenience of it, and the fact you can take a holiday and you don’t have to worry about a thing – everything is secure,” Mrs Dickie said.

The three-bedroom home still has enough room for the couple’s grandchildren to stay over.

“I love hearing the children’s laughter,” Mrs Dickie said.

“A wide range of people live here.”

But neighbour Bronwyn Harema would rather live in a standalone home. The medical typist, who works from home, purchased her three-bedroom townhouse six years ago for $272,000.

“It’s what I could afford at the time … let me put it this way, if I won Lotto tomorrow, I’d be somewhere else.”

Model housing

The Future Intensive: Insights for Auckland Housing report commissioned by Auckland Council looked at the following medium density housing developments:

New Lynn: 293 units in nine separate developments known collectively as Ambrico Place, with an average density of 57 units per hectare, within walking distance of what is designated as a “metropolitan centre” in the Auckland Plan.

Albany: Two developments, referred to as The Ridge and Masons, totalling 169 units, with an average density of 67 units per hectare, within walking distance of what is designated as an “emergent metropolitan centre” in the Auckland Plan.

Onehunga: Single development, The Atrium on Main, with 112 units with an average net density of 64 units per hectare, within walking distance of what is designated as a “town centre” in the Auckland Plan.

Refinancing

Auckland law firms and lawyers for refinancing, property transfers and conveyancingRefinancing is when you apply for a new home loan to replace your existing one.

Are you in the process of, or considering, refinancing your existing home loan.  If so there are various legal requirements that need to be dealt with and it is best to involve your property lawyer from the outset.

To discuss further with our Auckland law firm conveyancing and refinancing lawyers please contact our property law team at Quay Law .

Estate Administration

Shared by the Auckland law firm team at Quay Law.

Estate Administration is the process of carrying out a person’s wishes as set out in their Last Will and Testament. It is ensuring their assets are transferred to beneficiaries as smoothly and efficiently as possible.

In simple cases it may take just a few weeks to settle everything after Court approval, or longer if there are assets to sell, or any legal or family issues.

For more information on your particular estate administration requirements contact the lawyers at Quay Law Barrister and Solicitors in Auckland.

www.yourwill.co.nz Phone: +64 9 5232408 Contact Us

20130421-075159.jpg

Conveyancing and your home transfer process

Auckland law firms and lawyers for your property transfer process when buying you next home.Conveyancing is the term used to describe the legal work required to transfer the ownership of real estate from one person or entity to another.

As discussed in previous updates, a contract for sale and purchase  is a legally binding document and (in general) you cannot simply change your mind once a contract is signed unless there are special conditions.  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 agreement becomes an unconditional legal agreement.

Approaching  your experienced lawyer and conveyancer for legal advice before signing any documentation is the best way to ensure that your interests are protected.  Please see our lawyer’s article on the conveyancing and property transfer process for some general property transfer and conveyancing information.

Our lawyers and conveyancers are able to meet the demand for approachable and affordable legal advice in the areas of Property LawCommercial Law, Trusts, Wills and other legal services.

For more focused information and to contact our Auckland law firm team for a no obligation discussion please call Quay Law on Ph (09) 5232408.

Conveyancing with Quay Law | Auckland

Conveyancing with Quay Law.

auckland and law in nz conveyancing and property law with Quay LawAuckland law firm Quay Law are a legal services and conveyancing law firm based in Auckland, New Zealand.   Our conveyancers aim to provide the highest possible level of legal services to our clients and we are proud of the work we perform for our clients and the satisfaction that they express with our services.

A conveyancers  (property lawyer’s) basic work is to be involved in securing title over property transactions.

During the property transfer process, our conveyancer’s work on the transfer of title whether this be for  residential or commercial transactions.  Often there is mortgage finance or refinancing  involved with the property transaction.

The types of properties can include residential houses, factories, office space, unit tile and cross lease and any other type of property.

Quay Law and the property law team is a law firm based in Remuera,  Auckland. Our conveyancers and lawyers specialises in providing legal services for mortgage refinancing, conveyancing and property transactions. Our Auckland law firm also provides legal services for a range of other legal work. 

Contact Quay Law

Auckland law firm | Conveyancing and associated considerations.

Auckland law firm Conveyancing, family trusts and relationship agreementsWelcome to our Auckland law firm – legal blog.

Conveyancing and associated considerations.

Before you sign any contract for the purchase or sale of property, what should you consider? Below you will find a list of some of the considerations.   Please be aware that each personal situation is very different and you should consult with one of our Auckland conveyancers regarding your particular circumstances.

1.  The  type of ownership that best suits your particular situation.  Could a  family trust be of benefit to you?

2.  You will also need to  consider your payment |settlement arrangements. E.g. are you refinancing  or are you taking out a mortgage?

3. As per some of our earlier updates, a property transaction process can also be an opportune time to consider the updating of your wills,  your relationship agreements and powers of attorney.

4.  When buying a property, you may find our article on Conveyancing of interest to you.

This tip shared with you by the Auckland law firm | Quay Law.  Our lawyers providing practical, effective legal advice to Aucklanders.  To contact your lawyers in Auckland.

Follow

Get every new post delivered to your Inbox.

Join 2,540 other followers