Category Archives: Subdivisions

Bank Loan Approvals – a word of caution


I wrote the bones of this post in 2013, but its even more relevant now with stories of banks reneging on loan approvals just as the unit settlement date approaches. Basically:  Bank loan approvals mean very little if anything especially … Continue reading

Posted in Banking & Finance, Commercial Property, Construction Law, Litigation, Property Law, Residential property, Securities Law, Subdivisions, Unit Titles | Tagged , , , | Leave a comment

Bank Loan Approvals – A word of caution


They don’t mean anything, and they never have. You may think you can go and make your offer in safety.  You can’t. All bank loan approvals are “indicative”…ie they merely indicate what the bank “might” be prepared to lend.  They … Continue reading

Posted in Banking & Finance, Business Law, Commercial Property, Property Law, Residential property, Securities Law, Subdivisions | Tagged , , , , | 1 Comment

Dumping your Body Corporate Secretary


There are quite a lot of apartment complexes where the body corporate secretary has proven ridiculously difficult to get rid of.  In some cases, the developer has put in its own management company and entrenched itself in the rules.  In … Continue reading

Posted in Property Law, Residential property, Subdivisions, Unit Titles | Tagged , , , , | 2 Comments

The Unit Titles Act 2010


Just a quick note that the Unit Titles Act 2010 came into force yesterday, and will be the subject of a few posts over the next month or two, particularly regarding sinking fund provisions, which are the changes most likely … Continue reading

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Ngati Whatua Ground Rent Armageddon draws closer


Hundreds of leasehold apartment owners in downtown Auckland are gearing up for a legal fight with the Ngati Whatua o Orakei Maori Trust Board over the amount of ground rent they have to start paying from August, says the Sunday … Continue reading

Posted in Banking & Finance, Business Law, Leases & Leasehold, Property Law, Residential property, Subdivisions, Unit Titles | Tagged , , , , , | 1 Comment

Beware ANZ Commercial Property Loans (the sting in the penalty rate tail)


Just a heads up to the commercial property borrowers out there……we have just received a bunch of ANZ loan documents on a 2/3 loan to value ratio tenanted commercial property where the penalty rate on late payment is between: TWENTY … Continue reading

Posted in Banking & Finance, Business Law, Construction Law, Property Law, Subdivisions, Unit Titles | Tagged , , , , , , , , | 1 Comment

The Joys of Leasehold


Ah, the joys of not owning your land.  The battles of land owners with considerably surprised tenants are an unfortunate source of income for both valuer and lawyers and, generally, for the landlord. Not so much for the tenant, caught … Continue reading

Posted in Property Law, Residential property, Subdivisions, Unit Titles | Tagged , , , , , , , , , , , | 3 Comments