Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Property Lawyer Campaign Launched To Public


27 October 2001


The New Zealand Law Society today launched a public information campaign directed at buyers and sellers of property. Law Society President Christine Grice said the campaign was intended to raise awareness of the need for these people to see a lawyer at the outset – particularly before they sign any documentation.

“We want people to understand that there are pitfalls in any property transaction. They need to take advice from a lawyer who is qualified to recognise these and able to protect the client’s interests throughout the transaction. We also want people to get the message that there are many other legal issues that may need to be addressed as part of the overall transaction, in addition to the conveyancing matters.

“This may involve advice on the terms of the agreement, the best method of ownership, such as joint tenancy or tenancy in common, or relationship issues. It might also include advice on making a will, preparation of enduring powers of attorney, setting up a family trust or taxation implications, such as GST - especially important in the case of investment properties. During the campaign we will be talking about the impact of the new property relationships legislation, which will now need to be considered by any couple, whether married or not, including same sex, if they are purchasing property.”

Christine Grice said people risk their life savings if they fail to take independent advice from a lawyer before they commit to anything.

“The campaign includes a lot of information about what is involved in a property transaction. The Law Society has produced a comprehensive brochure detailing those processes from both a buyer’s and a seller’s perspective. It explains what the lawyer does and the kinds of checks that should be done before a person commits to a property deal. It also touches on some of the risks, such as where family members give guarantees or lend money to help fund the purchase.”

A new website, www.propertylawyers.org.nz, launched along with the campaign, includes a comprehensive ‘Property and You’ section, which includes frequently asked questions, defines commonly used terms and carries articles and statements on property law issues. Members of the public can also use the site’s search facility to locate and contact a property lawyer in their area.

Miss Grice said the campaign was very much community focused, with lawyer volunteers in each region working to get the messages out to people in their local communities.

“This campaign is probably long over due. Property lawyers all too often see people who have not taken the right advice at the start and don’t get clear title to their properties, who
commit to paying for their new home before they have sold their existing property, or find that they have bought a property with major structural defects. During the campaign we’ll be highlighting the sorts of things that can go wrong – things that could be prevented if people do the right thing – see their lawyer first.”

ENDS

For further information contact:
Rae Mazengarb 04 4727 837 or 021 334 095


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime Union: Deepening Supply Chain Crisis Requires Action

Maritime Union of New Zealand National Secretary Craig Harrison says the global COVID-19 pandemic exposed pre-existing weaknesses in our logistics sector, and created enormous problems... More>>



Air New Zealand: Employees Recognised With $1,000 Share Award

The efforts Air New Zealand employees made during one of the airline’s toughest years will be recognised via an award of $1,000 worth of company shares to all permanent employees... More>>

Consumer NZ: Bank Complaints On The Rise, Survey Shows

Nearly one in five Kiwis had a problem with their bank in the past year, Consumer NZ’s latest satisfaction survey finds. Consumer NZ chief executive Jon Duffy said the number of bank customers reporting problems had jumped to 18%, up from 11% in 2020... More>>

Mercury: Enters Into Binding Agreements To Acquire Trustpower’s Retail Business

Mercury NZ Limited (Mercury) has announced that it has entered into binding agreements with Trustpower Limited (Trustpower, NZX:TPW) to acquire Trustpower’s retail business for NZ$441 million... More>>

ALSO:


ASB: New Zealanders Missing Out On Hundreds Of Millions In KiwiSaver Government Contributions

New Zealanders have just over a week to ensure they’re eligible for the maximum annual government KiwiSaver contribution... More>>


Stats NZ: GDP Climbs 1.6 Percent In March 2021 Quarter Following December Dip

Gross domestic product (GDP) rose by 1.6 percent in the March 2021 quarter, following a 1.0 percent fall in the December 2020 quarter, Stats NZ said today. "After an easing of economic activity in the December quarter, we’ve seen broad-based growth in the first quarter of 2021... More>>