Bill to modernise land transfer legislation announ
Hon Maurice Williamson
Minister of Land Information
17 November 2010
Bill to modernise land transfer legislation announced
A Bill to modernise and streamline New Zealand’s land transfer legislation will be introduced next year following a recommendation by a recent Law Commission review, Land Information Minister Maurice Williamson says.
The Law Commission’s review of the Land Transfer Act 1952, contained in the report A New Land Transfer Act, proposes new legislation that will provide greater protection and clarity for those involved with property transactions in New Zealand.
The government has agreed to adopt all of the Law Commission’s recommendations. A Bill will be drafted for a new Land Transfer Act to modernise and simplify land transfer legislation.
“This will make the legislation more accessible, which is important because for many New Zealanders, buying a home is the biggest investment they will ever make,” Mr Williamson says.
“New Zealand has a modern, electronic land transfer system that enables people to buy, sell, mortgage, and lease land in an efficient manner but the system is not supported by modern legislation. Some provisions in the Land Transfer Act have been carried over from Acts passed more than 100 years ago.”
Mr Williamson says the proposed Bill would introduce measures to better protect home owners. For example, a Court will be able to (in cases of clear injustice) order correction of the register to avoid a registered owner losing their home through fraud.
“A land transfer system that provides people and businesses with secure property rights is a prerequisite for a prosperous, sustainable economy.”