Tag: New Zealand

Dividing Fences

May 5, 2010

In New Zealand it is the Fencing Act 1978 which governs the requirements for Dividing Fences, there were a few amendments and the Act was reprinted on the 1st August 2009.

 

The Act further covers two specimen types of fences detailed in Schedule 2 of the Act they are as follows:

 

URBAN

 

1.     Post and rail fence – a post and rail fence, at least 1 m in height, or substantial material, firmly erected, with not less than 4 rails, the space between the 2 bottom rails, and the bottom rail and the ground, not to exceed 125mm, and the posts to be not more than 2.75 m apart.

2.     Close boarded fence – a closed boarded fence at least 1.5 m in height with post rails, and having split or sawn timber placed upright, and well nailed to both rails, there being no openings between upright pieces of timber.

3.     Paling fence – any paling fence, at least 1 m in height, with posts and 2 rails, and having split or sawn timber placed upright, and well nailed to both rails, there being no more than 100 mm of opening between upright pieces of timber.

4.     Panel fence – Any panel fence at least 1 m in height with posts spaced not more than 2.7 m apart and having 2 or more rails with asbestos cement infill panels securely screwed to the rails.

5.     Masonry walls – Walls of brickwork, block work, or stonework adequately supported.

 

The other specimen is rural but this will not be covered in this article.

 

Disputes can arise between neighbours over the cost and materials in relation to dividing fences and the process for resolution is as follows:

 

Firstly you must understand what is defined as an adequate fence in the Act which states “if its nature, condition and state of repair are reasonably satisfactory for the purpose it serves or intended to serve”.

 

If you require your neighbour to contribute to the cost and material and this cannot be resolved amicably you are required to service notice on the neighbour. The Act sets out the best form to utilise in schedule 1 of the Act.

 

In effect the neighbour will have 21 days to either confirm they will contribute half the cost or dispute the notice, whereby they then serve you with a cross notice.

 

If you have received no response within the 21 days it will be deemed the neighbour has accepted your proposal.

 

Further more if the dispute cannot be resolved it will need to be heard in the Dispute Tribunal in New Zealand for amounts up to $7,500.00.

 

Remember to post your comments and feed back or alternatively contact us for advice or topics you would like covered. :)

Management Training

April 29, 2010

Your Management Team are the key for the successful running of your business. There is an abundance of free training available and one of those sources is Trade Enterprise New Zealand. My wonderful Manager Wendy from the Rotorua office is off to her second two day seminar.

This one is the Lean Business Operations something applicable to everyone in todays market place.

The challenge is to fine tune the systems and processes we use everyday to make the experience for you at Property Conveyancing Services smooth and stree free when you buy or sell your house or refinance your mortgage.

Our systems include keeping you, the Real Estate Agent, Finance Brokers, and our mutual clients informed along the way. You’ll see a whole lot more information of our website. www.propertyconveyancingservices.com

We like feedback so please don’t hesitate to give it to us.

Wendy Property Conveyancing Services Ltd Rotorua wendy@propertyconveyancingservices.com
:)

Title Estates

April 13, 2010

What are the different types of Title Estates in New Zealand under the Torrens System?

1. Fee simple – This is the largest interest which can be held in land next to the Crown. In effect this type of ownership is not limited by time and continues indefinitely. It carries rights representative of absolute ownership of property. Such rights include disposing of the land by sale, gift or generally whatever the owner wishes. But do remember if you were to find minerals, gems or other lucrative mines of wealth in the soil. This would be claimed by the Crown and you compensated accordingly.
2. Life estates – Generally speaking this type of interest is limited to the life of a tenant of an estate. It is normally used in family situations where a person wishes to divest themselves of the ownership of the property during their lifetime, but retain the right to use of the property. A Deed would be registered against the Title to protect the right.
3. Leashold estates – This is where the owner being the Lessor grants an exclusive right of possession of the land for a period of time on certain terms to another party being the Lessee. For the lease to be valid it must specify the time to run, property affected by the lease and exclusive possession. This type of lease would be registered against the Title.

Stay posted for further definitions and do provide your feedback or request for a topic we have not covered and you would like us to blog about. :)

Caveats and Registration

March 29, 2010

The Land Transfer Act 1952 in New Zealand provides for 5 types of Caveats.
A caveat is a warning to anyone to be aware. A Caveat is a notice which is registered against a title for any party to be aware that a claim is being made and sought. Caveats do not create new rights, they are used to protect existing ones. The person lodging a caveat must have reasonable grounds to register a caveat. If they don’t then they may be liable to compensate anyone who suffers a loss as a result of the registration.

The different types of Caveats are:
1. A caveat against bringing land under the Act.
2. A caveat against dealing with land.
3. A caveat against an application for prescriptive title.
4. A caveat as notice of interest in respect of compulsory registration of title.
5. A caveat to forbid issue of an ordinary certificate of title to replace a certificate limited by parcels.

Other types of Caveats can be registered by other statutes. As an example Section 42 Property Relationship Act 1976, where a spouse is claiming an interest in the other spouse’s property.

Or

Section 6 of the Joint Family Homes Act 1964 which allows a creditor to possibily lodge a caveat claiming an interest in the land due to debt.

The most common caveat we come across is the caveat against dealings. Generally a caveat is used by a person who wishes to protect an interest in land by preventing the registered proprietor from disposing of the land or dealing with it in a way that would affect the caveators rights and interests.

Caveats can be registered to protect a Purchaser under a long term Agreement for Sale and Purchase, or the Caveator is a lessess under an Agreement to Lease, or the Caveator is a mortgage under an agreement or unregistered mortgage, or the Caveator holds an option to purchase, or if the Caveator is a beneficiary under a Trust.

We would love to hear your comments and feedback :)

If you are a first Homebuyer have you considered approaching Kiwibank to discuss the Welcome Home Loans. Kiwibank Welcome home loans is in conjunction with Housing New Zealand Corporation and is for individuals, couples and families with little or no deposit but who can afford the loan repayments.

How a Kiwibank Welcome Home Loan can make homebuying easier.

The deposit: No deposit for home loans up to $200,000.00. If you qualify, you won’t need a deposit for a home loan up to $200,000.00, based on the registered valuation or purchase price of the property, which ever is the lower. You can borrow the whole 100%

Deposit assistance: When your borrowing 100% of the purchase price or valuation, the person selling you the house will require you to pay them a deposit. This is usually payable before the home loan is available at settlement. Kiwibank may be able to arrrange an overdraft (upto a maximum of $7,500.00 or 5% of the purchase price which ever is lowest) to help you pay the deposit. This overdraft will become part of your loan when your home loan is drawn down. Deposit administration fees and conditions apply.

Home loans between $200,000-$350,000: In selected area you can borrow upto $350,000.

Are you eligible? To be eligible to apply for a Kiwibank Welcome Home Loan you must:

* Have a total household income of not more than $85,000 pa for individual or joint applicants.

* Have a total household income of no more than $120,000 pa if there is more main sources of household income.

* Have an acceptable credit history.

* Be able to meet the loan repayments.

*Buy the house to live in yourself.

*Do not own any other property.

*Have been in your employment for no less than 12 months.

*Meet Kiwibank lending criteria.

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