Obtain a Land Information Memorandum
Agency: Auckland Council
The Land Information Memorandum (LIM) is not a legal requirement for registration, but it is an essential contractual requirement in practice. The LIM provides information on the legality of the building, building permits, restrictions on land use, rates, special characteristics of the land, drainage, etc. LIMs are issued by local authorities.
Most conveyancing is done by lawyers, but there is still an option for legal entities to register transfers though a (i) licensed conveyor or (ii) themselves.
Time and cost: 3 days, NZD 349.57 (Standard LIM – Up to 10 working days (does not include delivery) $298; Urgent LIM – Up to 3 working days (does not include delivery) $402. Both prices include the General Service Tax of 15%, which is removed from the total cost calculation.)
Register title through Land Information New Zealand
Agency: Land Information New Zealand
The Land Information New Zealand (LINZ) platform is an online property registration system. Confirmation is usually returned online within minutes. LINZ currently operates a dual system:
- An online land title registration system.
- A paper-based registration system (via LINZ processing centers).
It is possible to register manually through one of the Land Titles Offices. In this case, it would take 10 working days and cost NZD 176 (plus NZD 20 counter fee per instrument). Conveyancers and or lawyer’s fees, if used, would be approximately NZD 1,500. There is a cost to the vendor, which involves selling a property through a real estate agent, which would cost up to 4% of the purchase price. A person could privately advertise the sale of their property. The lawyer/conveyancer is required to certify that documents are correct and for registration. The documentation shall include:
The documentation shall include:
- Personal identification
- Written authority for the conveyancer/lawyer to register the property electronically
- Signed transfer of property
- Tax Statement from the buyer and the seller: After the Land Transfer Amendment Act of 2015, both parties of the transaction have to submit a Tax Statement which contains details of the title being transferred, the buyer or seller, if the land has a home on it, if the parties are New Zealand Citizens (or local companies), visa holders, whether any exemption applies (the main one being where the property is a person’s main home) and confirmation as to whether the person/entity is tax resident anywhere else in the world. The Tax Statement must include the IRD (tax) number.
Time and cost: Less than 1 day (online), NZD 1,580 (NZD 80 registration fee per transfer (for online registration) plus NZD 1,500 for conveyancer fee)