On 30 October 2020 the Supreme Court delivered a landmark judgment in the context of contracts of guarantee in the case of Brougham v Regan [2020] NZSC 118. A summary of the key facts of the matter and important points in the Court's decision follow.

Vast changes to the Residential Tenancies Act, what landlords need to know of their rights and obligations to tenants. With the increasing number of New Zealanders renting, Parliament has seen it fit to make changes to the Residential Tenancies Act 1986 ("the Act") to ensure renters are occupying warm, dry and liveable properties. The reformed Act looks to strike a balance between providing security and stability to tenants, while protecting landlord interest. It is important that landlords have an understanding of the new obligations and responsibilities the amended legislation imposes upon them, along with the penalties they may incur if not followed.

A New Normal - The impacts of the Covid-19 virus have been felt the world over and have pushed businesses to their limits. Parties on each side of a lease have been left with the job of negotiating through untested and uncertain lease clauses in a time where the support being offered by Government has been unclear and anyone who did hold insurance is discovering that 'pandemics' and 'infectious diseases' are a common policy exemption.

Under Section 89 of the Unit Titles Act 2010 (“the Act”) bodies corporate are required to hold an annual general meeting ("AGM") within 15 months of the last AGM. An extraordinary general meeting ("EGM") is required to be held when requested by more than 25% of unit owners or when necessary business is required to be completed under Section 89A of the Act. Current Covid-19 restrictions will limit bodies corporate from convening physical meetings of owners consistent with obligations under the Health and Safety at Work Act 2015 which requires bodies corporate to take all practicable steps to ensure the health and safety of any person attending body corporate meetings.

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.

Real estate agents or salespersons seeking to challenge a Complaints Assessments Committee's finding of unsatisfactory conduct need now to be aware of a shortened appeal period.

KiwiSaver has almost two million members. As at 1 May 2012, approximately 340,000 of those members were aged between 25 and 34. One of the advantages of KiwiSaver for this age group and others who are in the first home market is the schemes to assist first home buyers. Members can apply for a first-home deposit subsidy of up to $5,000.00 and can withdraw all or part of their savings to put towards their deposit.

Successful companies that have experienced exponential growth in a short period may need to relocate and move into bigger premises much sooner than the initial business plan anticipated. This may mean having to negotiate surrendering or assigning a lease, particularly in situations where the current term of the lease has a number of years left to run and the need to move is far more immediate.

Consider these five tips before entering into an agreement.

Your home is likely to be the biggest asset you ever own, and although buying and selling property is an exciting venture, there are several things that should be kept in mind before entering into a property transaction. Here is a list of our top five things to consider before your sale and purchase agreement goes unconditional: