Red Zone purchase documentation being made available

The New Zealand Law Society has begun circulating information to its members to allow them to be able to respond to the expected strong demand for advice from recipients of Government offers to purchase in the designated Red Zone.

Canterbury Earthquake Recovery Minister Gerry Brownlee  says that due to the nature of the offers, there are variations from the standard sale and purchase agreements.

“Being familiar with the documentation will allow lawyers to give better advice and service, from receipt of the offers by homeowners," he says.

“I urge all parties involved to carefully study the documentation, so that we can have a positive outcome for homeowners in the Red Zone.”

Systems are being geared up to deal with what will be one of the largest and most complex legal transactions ever undertaken in New Zealand.

Mr Brownlee says those who had correctly supplied information would begin receiving letters of offer by the end of this week. Over 3,000 letters of offer will be sent out in the first tranche.

The documents on the Law Society web site are the formal legal documents being used for briefing of Canterbury lawyers.  The letters of offer will be in plain language and will include clear explanations of the offer and other information to assist affected homeowners.  Homeowners should focus on the letters of offer and then discuss the formal documentation with their lawyers.

The Law Society's Canterbury-Westland branch and the Property Law Section have emailed members with information about the documents and their location.

Published courtesy of my.lawsociety.org.nz

Source: my.lawsociety.org.nz

Posted: 19 Aug 2011

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