LINZ sought submissions on a proposal that the fees charged for land title products and services remain at current rates.
The existing title fees are set out by the Land Transfer Regulations 2002. When the Land Transfer Act 2017 is enacted at the end of 2018, those regulations will be revoked: the replacement regulations will use language that reflects the terminology of the new Act.
While LINZ is proposing that the fees don’t change, the descriptions of some products and services are changing as a result of the Land Transfer Act 2017; for example, a “certificate of title” is now a “record of title” reflecting the services in new digital environment.
The proposal is to implement a new fee regulation that maintains the status quo (makes no changes to the current structure or levels of title fees) but gives effect to the Land Transfer Act 2017.
Consultation has now closed
Once LINZ has considered the feedback received, we will develop recommendations for the Minister and Cabinet to consider. The intention is to have the fees gazetted before early October 2018 and effective from 12 November 2018.