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Bill introduced to modernise unit titles law

The new Unit Titles Bill has been introduced to Parliament in order to help apartment owners and bodies corporate to manage their property more effectively.

Friday, May 30th 2008, 12:24PM

by The Landlord

The bill will bring existing legislation up-to-date and clarify the rights and responsibilities for both unit title owners and bodies corporate.

“The changes proposed will bring the legislation into the 21st century. The Unit Titles Act has not been reviewed since the 1970s and this has created a range of problems for people in unit title developments,” Building and Construction Minister Shane Jones said.

The new bill will address issues such as bodies corporate needing unanimous resolution before it can undertake tasks such as maintenance and spending, by reducing the voting threshold to 75%, and will also allow people to use mediation and adjudication through the Tenancy Tribunal to sort their disputes.


With multi-level building expected to become increasingly necessary, the Unit Titles Bill will help to streamline development processes and allow flexibility, which will mean up-front costs are reduced and developers can make changes to plans more easily.

“The proposed changes will provide broader and more adaptable ways of setting up and maintaining multi-level living, both now and in the foreseeable future,” Jones says.



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ANZ Special - 3.65 ▼3.54 3.99
ASB Bank 5.20 4.15 4.09 4.39
ASB Bank Special - 3.65 3.59 3.89
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Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
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Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp 5.19 ▼4.15 ▼4.09 ▼4.39
HSBC Premier 5.24 3.35 3.35 3.35
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HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 4.30 4.34 4.74
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Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.59 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 5.30 4.86 4.14 4.19
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RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.69 3.69 ▼3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.65 3.59 3.99
The Co-operative Bank - Standard 5.15 4.15 4.09 4.49
TSB Bank 6.09 4.65 4.59 4.85
TSB Special 5.29 3.85 3.79 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
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Westpac - Offset 5.34 - - -
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Median 5.35 4.15 4.09 4.19

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