4 Major Property Updates
Issues covered include: Overseas Investment Act, residential land sale, warranties in agreements, purchase of real estate, due diligence, tax in property, commercial property, industrial property, lease inducements, residential real estate investment, subdivision, resource management reforms
Description
This programme assembles an expert speaking panel who will guide you through the 4 key areas that you need to be across right now to provide informed and in-depth property advice to your clients in practice. You’ve spoken and we have listened.
Attend and earn 3 CPD Hours
Chair: Joe Biddles, Director, Thompson Blackie Biddles
9.15am to 10.00am: Overseas Investment Act: New Issues and Implications
Since its introduction, the Overseas Investment Act continues to throw up curve balls in relation to property. Join David Gilbert as he navigates the current issues affecting residential land, how your clients might be affected and pathways available to foreigners who wish to buy residential property in New Zealand.
Presented by David Gilbert, Partner – Property and Real Estate, MinterEllisonRuddWatts
10.05am to 10.50am: Warranties in Agreements for the Sale and Purchase of Real Estate
- Obligations on vendors
- What information to disclose?
- How to do so?
- Who does the obligation extend to?
- Obligations on purchasers
- Due diligence
- LIM and building reports
- Contributory negligence
- Top tips for effective due diligence by purchasers (and their lawyers)
- Key vendor warranty provisions in the ADLS residential agreement for sale and purchase:
- Clause 7.1: Notices, demands, requisitions, requirements the vendor is aware of
- Clause 7.2: chattels, work undertaken on the property and warrant of fitness
- Recent claims involving alleged breaches of warranty
- Pre-contractual representations in residential sale and purchase transactions
- When have the Courts held parties liable?
Presented by Georgina Grant, Partner, Rainey Law
Chair: Linley Hawkes, Associate, Witten-Hannah Howard
10.55am to 11.40am: Tax in Property
- Tax Working Group: Where to from here?
- Residential real estate investment
- Tax loss ring-fencing
- Bright-line test
- Subdivision/development
- Commercial/industrial property
- Depreciation
- Purchase price allocation
- Feasibility/black-hole expenditure
- Seismic costs/earthquake strengthening
- Lease inducements/premiums
Presented by Jamie Abela, Associate Director, Deloitte
11.45am to 12.30pm: Resource Management Reforms: Key Takeaways for Property Lawyers
- Analysis of the 2017 Resource Management Reforms including how they’re playing out in practice and the potential impact on property lawyers and their clients
- New Resource Management Reforms on the horizon: what you need to know and how you should prepare
- Navigating changed rules regarding subdivision consent
Presented by Chris Timbs, Senior Associate, Berry Simons
Learning Objectives
- Be updated on the Overseas Investment Act and its effect on property transactions
- Examine the impact of warranties in the sale or purchase of land
- Refresh your knowledge on the tax that affects property
- Receive a timely update on RMA reforms and the effect on property