July 11, 2018 In Bramwell Bate News By Bate Hallett

Cross-leases – What are they and what implications do they have?

Historically, cross-leases were a popular form of dividing land for land owners. This is because owners could avoid certain subdivision restrictions and would gain similar results to a formal subdivision under the existing Act, but at a fraction of the price. However, when the Resource Management Act 1991 was introduced, it made significant changes to the existing subdivision laws and practices, which meant that cross-leased properties were deemed to be a subdivision and were no longer a way to avoid subdivision...

Bramwell Bate Home Slider
July 11, 2018 In Bramwell Bate News By Bate Hallett

Lease Agreement versus Tenancy Agreement – What is the difference?

We regularly see clients interpreting lease agreements and tenancy agreements as being the same document. However, while both agreements are similar, it is important to understand the differences. Lease Agreements (“Lease”) A Lease is a contract between a landlord and a tenant for a commercial building. Leases are typically very detailed in regards to the conditions of the tenancy so that there are no discrepancies or issues during the term. Leases cover the responsibilities (“warranties”) of both the tenant and landlord in detail....

Bramwell Bate News
February 15, 2018 In Bramwell Bate News By Bate Hallett

Snippets

Who pays the rates?-Selling a property Property Rates are due throughout each respective council’s prescribed rating periods. Payment may be made six monthly, four monthly, three monthly or annually. When selling your property, you are required, at settlement, to pay the rates up to and including the settlement date. In practice, the Vendor will pay the rates to the end of the current rating period and the Purchaser's share of the rates will be apportioned in the settlement statement and paid to...