Insights & Articles

In New Zealand property transactions, building reports play a crucial role in the due diligence process, giving buyers a clearer understanding of a property's true condition before committing to a purchase, helping to uncover hidden issues, informing negotiations, and providing peace of mind. However, if misunderstood or misused, they can also complicate a deal.

Providing a guarantee for someone else’s financial commitments can expose you to serious legal and financial risks. Before agreeing, ensure you understand the potential consequences - especially if you won’t directly benefit or lack full visibility and control over the obligation.

When entering relationships with new suppliers, it’s essential to carefully review the terms of trade, especially if they include a General Security Agreement (GSA). While a GSA can offer credit benefits, it also carries significant risks, potentially leading to receivership if payment issues arise. Understanding these terms is crucial to protecting your business.

In the intricate landscape of estate planning and the execution of wills, the selection of legally appointed executors and trustees is critical. We explore an example case, which is a real eye-opener on the wild ride of wills, family dynamics, and the not-so-simple task of divvying up the goods.

This article discusses the importance of property owners in New Zealand reviewing their insurance coverage, especially in the aftermath of widespread damage caused by weather events in 2023. The focus of this article is on the often-overlooked aspects of insurance related to land and potential complications arising from natural hazards.

Succession, once a straightforward process, is now akin to navigating a minefield. With children seeking to cash in on their beneficial interests or shareholdings to fuel their own ventures, the need for careful consideration and expert advice has never been greater.

The significance of insurance in the context of purchasing a home cannot be overstated. It is not only a critical component but also a mandatory one when seeking financial assistance from lenders for a home purchase. Lenders need proof of adequate and appropriate insurance coverage before approving a loan drawdown.

The Government is once again looking to impose further statutory controls over how contractors are to handle and protect retention moneys owed to its sub-contractors - this time with civil monetary penalties facing the construction companies and their directors for non-compliance.

The Construction Contracts Amendment Act 2015 is implementing a number of updates to the Construction Contracts Act 2002 ("the CCA"). The amendments are coming into force progressively between 1 December 2015 and 31 March 2017.