Q: I purchased something on layby and the store has gone out of business. Can I get my money back? A: As long as you haven’t fallen behind the payment schedule, you’re entitled to pay the remaining amount due and collect the product. If the product isn’t in stock, you’re entitled to a refund. If your payments are up to … [Read more...]
Protection for property buyers
Did you know that property buyers are better protected when purchasing through a real estate agent rather than privately? It’s illegal for anyone (both real estate agents and private sellers) to hide or give false information about a property they’re selling. But unlike private sellers, real estate agents are expected to … [Read more...]
Mental capacity for EPOA
Q: What can you do if a loved one is losing their mental capacity and they don't have an Enduring Power of Attorney? A: In an ideal world, every adult would have an EPOA in place in case they become incapacitated due to age, sudden illness or an accident. An EPOA is a document that gives someone you trust the power to make … [Read more...]
What is a drainage easement?
Although most of us have good intentions towards our neighbours, drainage issues are often a source of conflict. Drain problems can be very costly, so tensions tend to mount quickly when neighbours disagree on how the cost of repairs and maintenance should be shared. And many homeowners don’t understand their obligations … [Read more...]
What should your Will cover?
If you’re making a Will or updating your existing one, here are the main details your lawyer will need to know: Who you would like to appoint as the executor of your Will - this person will manage the distribution of your estate after you die What assets you have - this would include things like money, property, … [Read more...]
Residential Care Subsidy
Q: I’ve gifted a lot of money to my family over the years. Will this be included in my asset test for the Residential Care Subsidy? A: It depends - if the money was gifted (by you or your partner) more than five years before your subsidy application and over $27,000 was gifted in any 12-month period, it may be … [Read more...]
Protecting your children’s inheritance
How can I ensure my kids won’t mismanage their inheritance? You could appoint a guardian in your Will. If you die before your children turn 18, their guardian would be responsible for helping them make decisions about their finances and other important matters You could move some of your assets into a family trust … [Read more...]
What is an Occupation Right Agreement?
Thinking of moving into a retirement village? You’re not the only one. 18% of Aucklanders aged 75+ live in retirement villages and the rate of village residency is growing each year. But retirement village contracts are complex and sometimes misleading. According to industry watchdog CFFC, residents often don’t fully … [Read more...]
What is a LIM?
What is a LIM? And why should you check it before buying a property? The LIM (Land Information Memorandum) is a report the council can prepare for you on request, summarising important information they hold about a particular property such as: Building consents or permits previously issued Erosion or flooding … [Read more...]
Property purchase checklist
Thinking about bidding at auction or putting an offer on a property? Make sure you’ve ticked these boxes first: ✅ Confirm that the bank has approved your finance for this particular property ✅ Get an independent building report to ensure that the property is in good condition ✅ Request a current … [Read more...]