Property Law Section
REINZ Sale & Purchase agreement
The Property Law Section became aware late last year that the Real Estate Institute of New Zealand (REINZ) Council had resolved to produce its own standard form of agreement for the sale and purchase of real estate.
This would be separate from the standard form that the institute had previously produced in conjunction with the former Auckland District Law Society’s Documents & Precedents Committee. Both parties hold copyright in that form, which has been widely used by lawyers and real estate agents in New Zealand.
This means there could be two standard forms in general use.
Upon learning of this, the section conveyed to the REINZ and ADLS its strong support for there being one standard real estate agreement throughout the country. However, for reasons beyond the section’s control, this vision could not be realised.
Drafting of the new REINZ form was already well under way, so the PLS Executive Committee unanimously agreed that it should seek to have input into the new form in an effort to ensure that it was satisfactory. It believes this to be in the interests of all property lawyers, real estate salespeople and the general public.
The REINZ has generously agreed to provide the section with the opportunity to review the draft form, and a PLS working group has been formed for this purpose.
The profession will be kept informed of the section’s involvement in this work, which has significant implications for all property lawyers.
It will also work closely with NZLS CLE Ltd to ensure that property lawyers’ educational needs are met, so they are up to date with the effect of the new agreement once it is in circulation.
Enduring powers of attorney
The new EPA regime has resulted in much debate and feedback from PLS members and the wider profession, due in no small part to the uncertainty created by the amendments and the unwelcome practical implications of the requirement for the witness to be independent of the attorney.
The section has been in dialogue with the Ministry of Social Development’s Office for Senior Citizens about the form of a clarifying amendment to s94A of the Protection of Personal and Property Rights Act. This has been no easy task, given the different views on the appropriate wording. Copies of the section’s submission to the Ministry are available on request by email from fran.jacobs@lawsociety.org.nz
The section understands that there is support for its position, but ultimately it will be a matter for Parliament to decide. The timing of the enactment of an amendment will depend on the legislative programme, but this is understood to be a matter of priority for the Ministry.
New website
Good progress is being made on the development of the new PLS website. The ‘Find a Property Lawyer’ directory has been improved considerably, and will feature a map enabling the public to search by geographical region and area of practice. The existing website follows the previous district law society boundaries, which are not common knowledge to the average member of the public.
The public will be able to link to PLS members’ own websites (where they have one) from the directory, and the display will feature individual members’ accredited status. Both of these enhancements have required enhancements to the PLS membership database.
Kim Oelofse
NZLS Secretariat
LawTalk 728, 4 May 2009