End outcome 1: Certainty of property rights

What we seek to achieve

'Certainty of property rights' ensures that New Zealand property rights and interests are able to be determined practically with a high degree of confidence.

Why this is a priority

This end outcome contributes to the Government's theme of 'economic transformation' through property rights in land enabling economic activity. It also contributes to 'national identity' as the use and ownership of land reflect who we are as a nation.

Achievement of this end outcome means:

• land transactions can be undertaken with confidence because they are supported by a legal framework, and
• land transactions can be undertaken efficiently.

Intermediate outcome

The key intermediate outcome supporting the achievement of this end outcome is an effective system for defining and transacting land.

Why this intermediate outcome

Providing an effective system for defining and transacting land enables the holders of rights, restrictions and responsibilities in land to confidently know the physical boundaries to which they apply. They can then efficiently identify, trade and use their rights.

This enables economic activity (through trading) as well as certainty for the landowner in his or her investment – the largest investment most New Zealanders make. It means registered landowners or right-holders have confidence that their rights are secure, well understood and easily tradable.

Having convenient access to integrated land information is also necessary. Knowing who owns what rights through convenient access to information enables decision-making and trading. It also plays a key role in providing confidence in and about those rights. This is the focus of LINZ's second end outcome, 'availability of land information'.

Measuring 'certainty of property rights'

Changes in the state of this end outcome will be measured by:

• business confidence and satisfaction levels of those who use and rely on the land transfer system, and
• international comparison of the New Zealand system against other similar land transfer systems.

Achieving the end outcome

Land market leadership

Particularly relevant to 'certainty of property rights' is a focus on defining the optimal role for LINZ in the land market. The achievement of this outcome depends upon, and is heavily influenced by, the regulatory frameworks for New Zealand's property rights registration and survey systems. In this context, 'land market leadership' reflects LINZ's specialist knowledge and policy expertise and how we contribute, in collaboration with other agencies, to the ongoing refinement and further development of these frameworks.

Our priorities include:

• contributing to the Treaty settlement process through providing expert land policy advice
• contributing to access policy and related initiatives, including:
  • the identification of marginal strips, and
  • providing technical policy expertise for the Department of Building and Housing-led review of the Unit Titles Act (designed to improve the regime for shared ownership in unit title developments)
• working with the Law Commission to rationalise and improve the Land Transfer Act 1952
• extending the legal framework for electronic registration of land transactions, and
• further developing a shared LINZ and industry understanding of the strategic context for those industries where LINZ has regulatory oversight.

Optimal regulation

The areas of LINZ's regulatory intervention associated with 'certainty of property rights' relate to standardsetting for the survey and legal professions, and to the maintenance of the survey system and land titles register.

LINZ will continue our review of the existing regulatory framework with a view to implementing improved and less prescriptive frameworks for survey and titles.

Based on the work completed to date, the risk-based intervention methodology used, the performancebased content, and the level of consultation during development, we believe there is acceptance of the regulatory interventions being used, and that they are considered fair by those affected.

Our focus now is to:

• raise greater awareness of the revised interventions
• facilitate industry understanding of obligations
• develop regulatory indicators and targets to evaluate the effectiveness of the improved interventions in achieving the outcomes, and
• complete the rationalisation of regulatory interventions.

e-delivery excellence

Our e-delivery focus for this end outcome has been on the survey and conveyancing professions through the implementation of Landonline. To date, we have achieved 100% electronic lodgement for survey and title transactions in the existing e-system. We have also developed better ways of researching and communicating with our customers to better gauge their needs.

Our focus now is to deliver further benefits for thesurvey and conveyancing industries, including:

• completing the 100% e-lodgement programme and transitioning it to business as usual
• rationalising LINZ offices based on efficiencies gained through 100% e-lodgement
• implementing our strategy for core paper records, which is focused on the preservation of, and access to, historic and important paper records, and
• developing shared strategies for how best to interact with the survey and conveyancing industries to create additional value.

Expert decision-making

LINZ regulates the management and disposal of the Crown's interest in land and property in accordance with the Public Works Act 1981 and the Land Act 1948. This legislation enables government agencies to buy and sell property. LINZ works to ensure that robust statutory decisions are made and statutory requirements are completed in a consistent manner.

Through the Overseas Investment Office, LINZ is responsible for administering the decision-making process under the Overseas Investment Act 2005. A focus in this area will be to review the Office's decision-making processes. In particular, we will look to improve the quality of documentation submitted by applicants, and the certainty of decisions against the criteria of clarity, transparency, consistency, basis of judgement, critical thinking, and consultation.

LINZ will also complete the development of a database that will enable easier recording and monitoring of overseas investment information.

Measuring the intermediate outcome

Outputs contributing to end outcome 1

The following output classes link to the strategic goals and priorities within this outcome set.