If you work in the commercial property sector - involving retail shops, office buildings, industrial facilities, or hospitality venues - you’ll want to know about the latest updates to the ADLS Deed of Lease ('DOL'). Released on 27 November 2024, the Seventh Edition introduces significant changes to reflect the evolving commercial landscape of the past decade.

With recent changes in tax regulations, increased compliance obligations, and rising administrative costs, what used to be relatively simple is suddenly complicated, time-consuming, and expensive. Is it time to simplify your life and wind the damn thing up?

The recent fall in property values across New Zealand has led to numerous purchasers being unable to obtain finance and complete settlement. This leaves both vendor and purchaser in an awful position, with lawyers scrambling to minimise the losses suffered on each side.

The Trusts Act 2019 ("the Act") outlines the obligations of trustees in managing family trusts. Information disclosure requirements to beneficiaries are significantly more demanding than previously applied.

Gift duty was abolished from 1 October 2011 and while the legislative change itself is simple, it has surprisingly complex consequences. The abolition of gift duty has made it possible for individuals to gift assets directly to a trust and it is likely this practice will supplant the former method of selling property to a trust with a gift back.

Consider these five tips before entering into an agreement.

As you may be aware, the Trusts Act ("Act") has received Royal Assent and will come into effect on 30 January 2021. Amongst other things the Act codifies the duties of trustees and requires greater transparency with beneficiaries. It will affect your current trust arrangements. You should consider reviewing, updating and making structural changes to your Trust if necessary, in order to future proof your Trust. The following is a summary of the key changes and how they may affect you.

Unfortunately situations where Tenants are unable to pay rent on their leased commercial premises happens all too often. As a commercial property Landlord, knowing your rights and what to do if this situation arises will help minimise your losses.

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 commercialreal estate agent, armed with an agreement to lease ("ATL") .... but beware, both LL and tenant, once signed the ATL will legally bind you tothe terms specified and your lawyer will be unlikely to be able to re negotiate your lease. It is important – if not critical – therefore, thatboth sides fully consider the ATL in detail before signing such. A few key considerations are as follows:

We have been fielding an unprecedented (but understandable) number of queries from both tenant and landlord clients wanting to understand the legal position in respect of either termination of commercial leases, and obligations in respect of rental/outgoings payments.

Buying a new build "House and Land" package has become a popular option for many first home buyers. It can involve a deposit lower than 20% of purchase price (depending on finance), and means you have the time it takes to build to keep saving towards the purchase of your new home.

The Property Law Act 2007 ("PLA") codifies – very strictly – the process and means by which a commercial tenant may be evicted for non-payment of rentor some other breach of its lease obligations. Whether you are the landlord or the tenant,it is critical you understand your rights and obligationsin an eviction scenario.