5 July 2017
New legislation to update the law for buying and selling of land has passed its third reading in Parliament.
LINZ is implementing the Land Transfer Bill, which is expected to come into force in late 2018.
“While the fundamentals of the land title system are not changing, the new legislation modernises the statutory framework for electronic land registration and implements other reforms adopted from the Law Commission’s well received review of the 1952 Act” says Robbie Muir, Registrar-General of Land.
“The new Act will mean some changes for people who work with the land title system such as property lawyers, conveyancers, banks, local authorities and some Government departments.
“Now that the legislation has been passed we’ll be working to ensure that all the necessary changes are in place by November 2018, when the new legislation is expected to take effect.
The work includes developing a new set of Land Transfer regulations, updated regulatory standards and guidelines, some changes to operational processes and Landonline, and related education and information for lawyers, conveyancers and other users of our land registry services.
“Over the next year we will be consulting on the detail of changes to regulations, standards and guidance material with external key stakeholders like the New Zealand Law Society.
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