Buying or Selling This Season? Get the Legal Details Right

February is when the New Zealand property market typically hits its stride. After the summer break, buyers and sellers are back in action and deals can move quickly, especially where property is linked to a business, a lease, or a wider commercial plan. In a busy season, getting the legal structure right matters.

A common question from business owners is whether to buy property in a personal name, a trading company, or a separate asset-holding entity. There is no one-size-fits-all answer. The best structure depends on your risk profile, financing, tax advice, and whether the property is intended as a long-term investment or primarily for day-to-day trading. In some cases, separating valuable assets from the trading entity can reduce exposure if the business faces disputes or financial pressure, but the structure must align with lending, contracts, and insurance.

If you are buying a business that operates from leased premises, the lease is often as important as the sale agreement. Lease terms can directly affect the value of the business and your ability to operate. Key issues include rent review clauses, maintenance obligations, renewal rights, and whether landlord consent is required to assign the lease. The same applies when selling, if consents and documentation are not in order, settlement delays are common.

For residential property, peak season can mean tighter timeframes. That makes it essential to review the Sale and Purchase Agreement early, ensure your conditions are fit for purpose (e.g. finance, building report, LIM and title), and confirm deposit timing, especially where KiwiSaver is involved.

The key message is simple: structure and documentation drive outcomes. If you are planning a property move soon, talk to ASCO Legal before you sign.

“We have used ASCO legal services in Howick to sell our house. We have been delighted by the services provided by Kylie and Alistair. Kylie went out of her way to help us resolve an issue with the council. I’ll highly recommend them.”

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