New legislation just passed in Parliament ensures New Zealand’s land transfer system will continue to be modern and world-leading, says Land Information Minister Mark Mitchell.
“The Land Transfer Bill reflects the fact that the majority of property transactions are now done online,” says Mr Mitchell.
“The land transfer system secures people’s ownership of land and provides certainty and fairness.
“This legislation provides for improvements in redress in the rare situation that a property owner suffers as a result of mistake or fraud.
“There are also extensions to the ability to withhold personal information to protect the personal safety of landowners and their families.
“The Bill introduces improvements to modernise transactions, which will make the system more efficient.
“New Zealand is a great place to buy, own and sell property, and this Bill will make sure our property transaction system continues to be modern and safe,” says Mr Mitchell.
The new legislation is expected to come into force in late 2018.