The choice of trustees remains one of the most crucial decisions that a settlor must make when setting up a trust. There are a number of options available to the settlor.
Most commonly, a settlor will choose an individual who is familiar with the settlor and the settlor’s family to be a trustee. Continue reading
In New Zealand it is common for families and those carrying on a business to hold real estate and company shares through a family trust.
What is a Trust?
A Trust is a written arrangement which creates a legal obligation when a person gives assets (the settlor) into the control of another person (the trustee) for the benefit of one or more persons (the beneficiaries). Continue reading
At the time of marriage most couples intend to remain together until their death. Unfortunately, recent New Zealand statistics show that in the last quarter century about one-third of first marriages have ended within 25 years of the marriage.
In this country many marriages are second or even third or fourth marriages. Many couples have also chosen to live together without getting married. Such relationships are known as de facto relationships. Continue reading
Holidays law in New Zealand was first introduced in 1870s. The number of holidays employees are entitled by laws has been increasing with the development of productivity, economy and civilization. In New Zealand employees can now enjoy four-week annual holidays and eleven days of public holidays. Furthermore, people who work on public holidays are entitled to time-and-a-half pay and a further day off. Continue reading
New laws which are designed to increase transparency and achieve greater regulation in the financial services sector will apply to the finance industry in New Zealandfrom 1 December this year.
The legislative scheme comprises of two major statutes – Financial Advisers Act 2008 (FAA) and the Financial Service Providers (Registration and Dispute Resolution) Act 2008 (FSPA). Continue reading
What is a caveat?
A caveat is a statutory notice that is registered against the Certificate of Title for land. It serves as a notice that the person lodging the caveat (‘the caveator’) has an interest in the land. One purpose of lodging a caveat is to Continue reading
DICK V LEE & ANOR (HC, DUN, CIV 2004-412-310 [31 May 2006])
Sometimes, builders neglect to give you an invoice immediately after contract work was finished or simply charge you much more than expected. What can be done if this happens? Continue reading
A mortgagor may be entitled to relief on a number of different grounds, either technical or substantive. Technical grounds might include non-disclosure, or faulty disclosure, by the mortgagee pursuant to the Credit Contracts and Consumer Finance Act 2003 or deficiencies in the form or service of a Property Law Act notice. Continue reading
Huang v North Shore City Council (High Court, Auckland, CIV 2005-404-002991, 12 December 2005, Venning J)
The plaintiffs sought to argue that the Council was negligent and in breach of its statutory duty when it issued a building consent and failed to supervised the construction of a house built in 2000-2001 and purchased by the plaintiffs in 2003. Continue reading
Drillien v Tubberty (High Court, Auckland CIV 2004-404-2873, 15 February 2005, Associate Judge Faire)
The leaky building saga has seen plaintiffs seek to make liable all of those involved in the construction of a property. In this case the defendant and his wife were the directors and shareholders of a company that purchased, developed, and sold residential properties in Auckland. This was an attempt by the plaintiff to make the defendant personally liable for the defects in the cladding, the external joinery, the roof and the structural framing timbers, on the basis that he owed them, as purchasers of the building, a personal duty of care in its construction. Continue reading