http://www.foundationlegal.co.nz/blog/ The latest Blog feeds from www.foundationlegal.co.nz en-us Tue, 28 Apr 2026 10:17:46 +1200 Rocketspark http://www.foundationlegal.co.nz/blog/post/100419/can-i-go-from-listing-with-an-agent-to-selling-my-property-privately/ Can I go from listing with an agent to selling my property privately?Selling your property can be frustrating if you reach the end of your agency agreement without an offer. At the end of your agency agreement period if you decide to sell privately there are things you should check first.It is important to check the terms of your agency agreement and seek legal advice to ensure you understand the obligations that may apply after you stop working with that agent before you progress with selling p... Thu, 16 Feb 2023 09:36:53 +1300 http://www.foundationlegal.co.nz/blog/#post100419 http://www.foundationlegal.co.nz/blog/post/94083/land-covenants-and-buying-off-the-plans/ Recent planning legislation changes have seen many local councils define various areas of land that are now zoned for more intensive housing.If you’re looking at buying land within these zones with the intention of subdividing, then there’s one thing you will need to understand before making a commitment – land covenants.What is a Land Covenant?Land Covenants, also known as restrictive covenants, are generally applied to residential subdivisions. They are a form of contractual agreement th... Mon, 14 Nov 2022 14:51:20 +1300 http://www.foundationlegal.co.nz/blog/#post94083 http://www.foundationlegal.co.nz/blog/post/93967/lease-documents/ ... Thu, 10 Nov 2022 10:25:29 +1300 http://www.foundationlegal.co.nz/blog/#post93967 http://www.foundationlegal.co.nz/blog/post/93964/relationship-property-or-separate-property/ The Property (Relationships) Act provides a set of legal rules which determine whether property is relationship property or separate property and how relationship property is to be divided when a marriage, civil union, or de facto relationship ends either by separation or death.It is possible for de facto partners and spouses to alter the rules that are set out in the Act for classifying and dividing property. To do this, it is necessary to enter into a Relationship Property Agreement (also know... Thu, 10 Nov 2022 10:15:56 +1300 http://www.foundationlegal.co.nz/blog/#post93964 http://www.foundationlegal.co.nz/blog/post/92642/relationship-property/ If you contribute unequal cash deposits towards the purchase price of your new home you may want to consider protecting your contribution. You can do this by entering into a contracting out agreement (more commonly referred to as ‘a pre-nup’ or ‘pre-nuptial’, even if you are not married). Through this agreement, couples can stipulate their own rules for the classification and division of their assets in case they separate or one of them dies. Without a binding contracting out agreement,... Tue, 18 Oct 2022 13:57:51 +1300 http://www.foundationlegal.co.nz/blog/#post92642 http://www.foundationlegal.co.nz/blog/post/92476/the-bright-line-test/ The bright-line test is designed to require investors to pay tax on the sale of properties that are bought and sold within a set period. When the rule was first introduced, a property that was not owner-occupied and bought and sold within two years was captured. Then the time limit was extended to five years. Last year, it was pushed out to 10. Any gains that are made on a property are taxed at the owner's marginal tax rate. But Walker said people could be caught out if their "investment" was pu... Mon, 17 Oct 2022 12:04:12 +1300 http://www.foundationlegal.co.nz/blog/#post92476 http://www.foundationlegal.co.nz/blog/post/92055/whats-mine-is-not-necessarily-yours-inheritances-and-relationship-property/ Married people and people who have been in a de facto relationship for three years or more face a difficult decision when they come to inherit property: should the inheritance be shared with their spouse or kept separate?The law certainly does not require someone to share their inheritance with their spouse and, while some people may find it hard to imagine not doing so, others may wish to keep the money for themselves but worry about what their spouse would think if they did so.Legally, spouses... Wed, 05 Oct 2022 14:07:49 +1300 http://www.foundationlegal.co.nz/blog/#post92055 http://www.foundationlegal.co.nz/blog/post/92054/how-long-does-it-take-to-pay-out-an-estate-after-someone-dies/ There is a process that must be followed when someone dies to establish that the will (if there is one) is the right one, or to give someone the power to administer the estate, if there is no will. Once that is done, time must be allowed for claims or disputes to be notified, and resolved, before assets may be distributed. Most Estates take approximately 7 months to a year to complete.What’s the process involved in distributing assets after a death?Unless the deceased had very limited assets, ... Wed, 05 Oct 2022 14:00:18 +1300 http://www.foundationlegal.co.nz/blog/#post92054 http://www.foundationlegal.co.nz/blog/post/88753/what-is-a-testamentary-guardian-what-rights-do-they-have/ What is a testamentary guardian and what rights do they have? A testamentary guardian is guardian appointed by a parent in their will for the care of their child (or children) under the age of 18 years. To be eligible to be a testamentary guardian a person needs to be at least 20 years old and only one can be appointed. We recommend parents appoint testamentary guardians in their preferred succession order in their will. It’s a common misconception that a testamentary guardian will be in cha... Wed, 21 Sep 2022 11:55:05 +1200 http://www.foundationlegal.co.nz/blog/#post88753 http://www.foundationlegal.co.nz/blog/post/88724/5-reasons-every-adult-should-have-a-will/ Why do we need a will? In basic terms, to document who you wish to provide for upon your death and how you’d like your assets to be distributed. Wills also allow you to specify someone you would like to look after your children or to leave special gifts and meaningful things to people or organisations you choose. They can include special instructions for a funeral, and typically name the person who will carry out our wishes.If you don’t have a Will or if yours is not valid for some reason, w... Tue, 20 Sep 2022 14:34:48 +1200 http://www.foundationlegal.co.nz/blog/#post88724