A unit title is a form of property ownership where you own your unit, but the common areas are owned by the body corporate. This ownership structure is common in high-rise apartment blocks.
After 25-odd years, I’ve lost count of the cases I’ve seen where people would wager a vital organ they haven’t put a single legal foot wrong. In reality, they’re marinating in wrongdoing, risk and liability.
Contributions by family members to the purchase of a property and how this is recorded can affect property ownership. We discuss how you can help your children and, at the same time, lessen the risks to you as parents.
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.
With record-breaking real estate prices in and around the Upper Clutha and wider Queenstown Lakes District, it’s not surprising so many property owners have swarmed to peer-to-peer accommodation platforms, like Airbnb, to reap the rewards.
We Kiwis love our real estate – in my experience, though, there are some who aren’t quite so enamoured with the checks and balances needed when buying a property.
Most laws tend to have initial bedding-in challenges. In the case of the new foreign buyer legislation, it’s the failure by would-be buyers to complete a crucial new form – an oversight so significant, it’s already derailing sales and causing financial grief.
