Ownership of a cross lease property means you own a share of the underlying land and lease flats (or houses) to yourself and other owners for (normally) 999 years. A cross lease plan is annexed to the certificate of title and is commonly referred to as the ‘Flats Plan’. This shows common areas, restricted areas
The Personal Property Securities Register (‘the Register’) is an electronic record of any debt security interests held against any personal property (except land) owned by an individual or organisation. In order to register a security interest over property a creditor needs to have ownership rights in the property. Purpose of Register If someone owes you
New Zealand’s highest appellate court, the Supreme Court, has recently delivered its decision in Rose v Rose. The case is about the classification of property. The Property (Relationships) Act 1976 (‘the Act’) defines relationship property and separate property. Relationship property is the pool of common property and at separation it is to be divided equally,
The Land Transport Amendment Act (‘the Act’) was passed on 25 July 2009 and will come into force on 1 December 2009. The Act was in response to the public’s growing concern about drug-impaired drivers posing a serious risk on our roads. All drivers should be aware that the Act not only covers controlled drugs
