Know Your Business - Things You Should Think About Before the Sale

Thursday, November 07, 2013

When it comes to a business sale you need to "know your business".  It is far too easy for assumptions to be made that are not incorporated in the sale agreement itself.  In this article, we comment briefly on some of the things you should think about before seeing an agent or putting pen to paper.  Read more

Defective Cross Lease Titles

Friday, October 11, 2013

Looking at buying or selling a cross lease property? One of the most common issues plaguing cross lease properties throughout New Zealand is the likelihood the flats plan (which is meant to show the boundary lines of the house, garage etc) is out-of-date and has not been updated following structural additions or improvements. The reason: it's not, strictly speaking, necessary from Council's perspective, and building consent may be granted without any reference or requirement to update the property's flats plan. The flow-on effect from this is the flats plan (which is attached to the certificate of title) is "defective", arguably giving a purchaser the right to pull out of an otherwise unconditional sale and purchase agreement.  Read more

Matters To Consider Before You Sign An Agreement To Lease

Tuesday, September 06, 2011

The leasing market is ever changing.  Many would argue the current economy to favour tenants – there are a myriad of vacant properties currently available, and a definite lack of (quality) prospective tenants available.  Many tenants are looking to down size, if not liquidate, leaving landlords ("LLs") in the unenviable position of being forced to consider short term and stop gap solutions for their own cash flow purposes.  Enter the commercial real estate agent, armed with an agreement to lease ("ATL") ....  but beware, both LL and tenant, once signed the ATL will legally bind you to the terms specified and your lawyer will be unlikely to be able to re negotiate your lease.  It is important – if not critical – therefore, that both sides fully consider the ATL in detail before signing such.  A few key considerations are as follows: Read more

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