Make Sure You Have a Will

Gives comfort to your family
New Zealanders need to find time to sit down and make sure they have a will. We all know this is important but how many of us don't get around to it? Recent research by the Commission for Financial Capability has shown that only 47% of Kiwi adults have a will and the figures are worse for women, Maori and Pasifika. This survey of 2,000 New Zealanders found that only 44% of women have wills compared with 51% of men. These statistics are concerning when you consider the devastating effects that not having a will can have on your family. Read more…

Retirement Village Life

The upside (and downside) of downsizing
New Zealand's ageing population has created a boom for retirement villages, with record numbers being developed. For many looking to retire or slow down, retirement village living is attractive – and it's not hard to see why. A new apartment or cottage in a secure, well-maintained environment, offering a lock-up-and-leave lifestyle, and providing resort-like facilities such as cafes, gyms, pools, bowling greens, libraries and men's sheds can be very appealing. Read more…

Checking the conditions

Given the significant financial commitment involved in purchasing a property, you want to make sure your investment is sound. One way of ensuring that a property is right for you is to include some conditions in your agreement for sale and purchase. If you do so, the purchase will only go ahead if your conditions are met. An agreement with no conditions included is 'unconditional' and you are obliged to complete the purchase once the agreement is signed. Read more…

Buying a Cross Lease Property

Quite different from a fee simple title

New Zealanders love to talk about property. There are a multitude of topics relating to property that Kiwis have an intimate knowledge and understanding about which form the topic of water cooler and dinner conversation. The cross lease is just one of those many topics of conversation. Read more…

Letting Fees - Now Defunct

From 12 December 2018 tenants can no longer be charged a letting fee. The legislation banning letting fees was passed in late October.

Many tenants paid their landlord a letting fee of a week's rent plus GST at the beginning of their tenancy. These letting fees cover the costs of the landlord's letting agent or lawyer in setting up the tenancy.

Whilst tenants will be pleased with this change, landlords have given the news a lukewarm response saying that the letting fee ban may lead to rent rises.

Overseas Investment Amendment Act 2018 now in force

The Overseas Investment Amendment Bill has become law and is now the Overseas Investment Amendment Act 2018 (the OIA Act). It has been in force since 22 October.

The implication for you is that when you next buy residential property, there will be another layer of compliance to be completed before your property purchase goes through. Read more…

Downie Stewart Lawyers Dunedin 8th Level, 265 Princes St, Dunedin, 9016 03-477 2263
PO Box 1345, Dunedin 9054 |  Fax: 03 477 4021  |  E: info@downiestewart.co.nz