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September 2009 - Issue 60
Landwrap - Authoritative news and information for survey and titles customers
  • Landonline & Regulatory News
  • e-dealing News
  • e survey News
  • ta ecertification News

NZILE's September conference

More than 150 legal executives from around the country attended the fifth national New Zealand Institute of Legal Executives (NZILE) conference in Auckland on 7-8 September.

Speakers covered topics such as estate planning, mortgagee sales, leaky buildings, negotiating, and the Property Amendment Act (2008).

As one of the conference sponsors, LINZ had a stand and handed out flyers on the common e-dealing rejection reasons with suggested prevention methods, and the process for transacting Maori land both of which are available on this website. The flyers were popular, and attendess took the opportunity to discuss the content and other issues.

For Julie Gillatt, LINZ's e-dealing Product and Service Owner, this was her second NZILE conference.

"LINZ has come a long way since our involvement at this conference three years ago, which mostly involved us demonstrating Landonline, and showing legal executives how to complete electronic dealings," says Julie. "Now we're shifting our focus to helping customers complete their e-dealings more effectively, especially the more complex transactions.

"We had some really good questions, and some enhancement suggestions, which I've taken back to the office for discussion. It's always good to talk to legal executives as they're the ones dealing with clients at the coal face, so it's great to hear their opinions and issues first hand."

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e-dealing watch points for practitioners

e-dealing watch points are continually being added to. You will find these and links to other e-dealing related articles on this website.

Variation of mortgage – consent requirements

Section 102(4) of the Land Transfer Act specifies that the consent of the mortgagee for any existing mortgages is required for a variation of mortgage.

Section 2 of the Land Transfer Act includes encumbrances in the definition of mortgage. Therefore, the consent of any existing mortgagee or encumbrancee is required for a Variation of Mortgage.

If there is an existing mortgage or encumbrance, a special certification will display for the practitioner (i.e. solicitor or conveyancer) to check:

Mortgagor certifications

Special
I certify that the Encumbrancee under Encumbrance 3215671.7 has consented to this transaction and I hold that consent. Checkbox.

A practitioner must not check a special certification if they do not hold that consent. A practitioner will need to take the necessary steps to obtain consent from all affected parties, and hold these on file with the Authority and Instruction (A&I form) for compliance purposes.