Guidance on LIMs relating to Christchurch

The Property Law Section of the New Zealand Law Society has provided some guidelines on obtaining LIM reports from the Christchurch City Council. The Council buildings are within the cordoned area. The Property Law Section advises that the options available to a purchaser are:

  • To seek an extension of time from the vendor;
  • Depending on that response, if no extension is granted, the provisions of the agreement prevail specifically;
  • If the time period specified in the agreement is not met, it is at the option of either party to cancel the agreement.

Until it is cancelled, the agreement continues on foot.

The Section says lawyers outside Christchurch acting on a purchase in Christchurch should be aware that Christchurch lawyers and their clients place a great deal more reliance (rightly or wrongly) on the detail of the LIM reports than is customary in some other areas of New Zealand. That may not be an issue for their purchaser but could become an issue on a subsequent sale of the property.

© New Zealand Law Society 2008