When someone acts as a trustee of a family trust, they often take on liabilities associated with the trust. Those liabilities generally include obligations to the trust’s lender (such as a bank) or other creditors.
For more than three decades, the Resource Management Act 1991 (RMA) has shaped how New Zealand uses land, builds homes and infrastructure, and protects its natural environment. It has been one of the country’s most influential, and controversial, pieces of legislation.
The much-anticipated proposed changes to the Holidays Act 2003 were announced in late September by Workplace Relations and Safety Minister, the Hon Brooke van Velden. The Minister said the proposed new legislation will give more confidence and certainty to both employers and employees, and will fix the ‘broken system.’
For many New Zealanders, daily life is now as much online as it is offline. From internet banking and investment platforms to email accounts, social media, cloud storage and cryptocurrencies, our ‘digital footprint’ has become an important part of who we are and what we own. Yet most wills and succession plans still solely focus on traditional assets such as property, shares and savings. Digital assets are often overlooked, leaving families and executors struggling to access information and take control of these assets when the will-maker dies.
Artificial intelligence (AI) has developed from a futuristic concept to a mainstream tool used by many businesses on a daily basis. The exponential growth of AI in recent months/years is hard to miss, with various industries adopting the technology to streamline operations and boost productivity.
Separating from your partner or spouse can be one of life’s most stressful and challenging experiences. At Simpson Western, our dedicated Relationships team understands what you’re going through. We’re experienced, empathetic lawyers committed to guiding you through every step of the process. Our goal is to make things simpler and ensure you achieve the best possible outcome. In this article, we answer the questions we’re most often asked by clients facing separation. How do you separate from your partner in NZ? There’s no formal legal process required to “separate” in New Zealand. You simply need to live apart with the intention…
The government recently announced a reform to the Overseas Investment Act 2005 that would allow overseas residents with a New Zealand investor residence visa to buy or build a property to the value of $5 million-plus. Currently, overseas residents and investors are largely restricted from purchasing or building property in New Zealand.
The general rule of thumb when you buy a property is that the more information you can find out about the property, the better. Sometimes, the information you are interested in will be offered by the seller or their real estate agent. Can you rely as much on information obtained from these parties as you could using a third party?
Two of the most important considerations for parties to a commercial lease are, ‘What is the annual rent?’ and ‘How and when can the rental amount be reviewed?’ The answers are always found in the deed of lease for the premises.
When you buy a house in your own name, and you need a loan to do it, you will be the borrower, the owner and the security provider (mortgagor). In some situations, these are different people. For example, the owners might be the trustees of a trust, but the borrower is an individual. This does, however, make things complicated from the lender’s perspective, as this article will explore.
