Bramwell Bate Hills
January 19, 2022 In Bramwell Bate News By Cherie Hannam

Government Introduces Further Amendments to Overseas Investment Rules

The Government introduced a number of amendments to the Overseas Investment Act 2005 (the OIA) on 24 November 2021, following several incremental amendments implemented throughout 2021. The OIA governs overseas investment in sensitive land, significant business assets and fishing quota, and recent reforms aim to support and attract quality overseas investors whilst managing risk. Three key recent amendments relate to the sale of farm land, the sale of fresh or seawater areas and the “benefit to New Zealand” test. 1.   Sale of...

Bramwell Bate Landscape
January 10, 2022 In Bramwell Bate News By Cherie Hannam

The Wills Act: What does it mean?

The Wills Act 2007 (“Act”) governs how wills should be prepared, executed, amended and administered. The Act was introduced to make the law around wills easier to understand, with a single reference point rather than spread over different statutes. An overview of the Act is outlined below. The Act applies to the wills of people who die on or after 1 November 2007 regardless of when the will was executed. However, s 40 of the Act provides guidance on which...

December 20, 2021 In Bramwell Bate News By Cherie Hannam

Tenants in common: when only one wants to sell

Property Sharing Agreements are becoming more prevalent as individuals seek certainty of outcomes, where unforeseen circumstances intervene after property purchases. The form of property ownership known as ‘tenancy in common’ is becoming more popular due to this. This form of ownership enables an individual to have control over their share of the property they are a part owner of, to the extent that they can decide who they wish to take over their share in the event they die or...