The Law Commission's report on the review of the Land Transfer Act 1952 has been welcomed by both Land Information Minister Maurice Williamson and Justice Minister Simon Power.Commissioner John Burrows said current legislation does not support the way thi
The Law Commission’s report on the review of the Land Transfer Act 1952 has been welcomed by both Land Information Minister Maurice Williamson and Justice Minister Simon Power.
Commissioner John Burrows said current legislation does not support the way things are done these days.
Changes would tailor the act, which contains provisions from as far back as 1885, to a modern age covering things like the electronic land transfer system now used.
“We need an act that is accessible and written in plain modern English,” Mr Burrows said.
Some of the 24 changes the commission recommended include giving the court power to order the register be corrected if a registered homeowner loses a house through fraud, making lenders obligations to check borrowers’ identities and gives new way for noting land covenants where rather than other land a person has benefits attached.
“Modernisation will clarify the law and contribute to the certainty of property rights which is crucial for economic benefits,” Mr Williamson said.
The updated version of the act is expected to be taken to the cabinet in four months.
