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Local Government (Rating) Act 2002

Assessment, payment, and recovery of rates and remission, postponement, and write-off of rates - Assessment, payment, and recovery - Rating sales and leases

73: Execution of documents for rating sale or lease

You could also call this:

"Getting official papers when you buy or lease a property"

Illustration for Local Government (Rating) Act 2002

When you buy a property under section 71 or section 72 and you have paid the full price, the Registrar must do two things for the person who used to own the property. The Registrar must create a document to transfer the property to you, and they must put a note on the document to say that the property was sold under this law.

When you lease a property under section 71 or section 72 and all the conditions have been met, the Registrar must do two things for the person who used to own the property. The Registrar must create the lease document, and they must put a note on the lease to say that the property was leased under this law.

After the documents have been completed, you can take possession of the property you bought or leased.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM132734.

Topics:
Housing and property > Buying and selling homesHousing and property > Land use
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72: Further powers and duties of Registrar, or

"The Registrar's extra jobs when selling or leasing properties"

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74: Presumption of valid rating sale or lease, or

"Assuming a property sale or lease is valid, even if mistakes were made"

Part 3Assessment, payment, and recovery of rates and remission, postponement, and write-off of rates
Assessment, payment, and recovery: Rating sales and leases

73Execution of documents for rating sale or lease

  1. In the case of a sale made under section 71 or section 72, when the purchase price has been fully paid, the Registrar must—

  2. execute, under the seal of the High Court, a memorandum of transfer on behalf of the ratepayer whose interest has been sold; and
    1. note on the transfer that the rating unit has been sold under this Act.

      1. In the case of a lease made under section 71 or section 72, when the preconditions to the execution of the lease have been complied with, the Registrar must—

      2. execute the lease, under the seal of the High Court, on behalf of the ratepayer whose interest has been leased; and
        1. note on the lease that the rating unit has been leased under this Act.

          1. When the transfer or lease has been executed, the purchaser or lessee, as the case may be, is entitled to obtain possession of the rating unit purchased or leased.