Che Bunce - Lawyer

25/10/2023

What is the brightline test and how might it impact you?

In a nutshell, the bright-line test was first introduced in 2015 as a way to tax the financial gains people make when they buy and sell houses for income. Once a property is sold (and it’s increased in value), then the seller may have to pay tax on that value increase. It only applies to investment properties and not to main homes.

When the test was initially introduced, it only applied to properties bought and sold within two years. The timeframe was extended to 5 years in 2018 and then extended again in 2021 to 10 years. However, there is every indication that the bright-line period will revert back to the original 2 year period under the newly elected government. The brightline periods are illustrated in the graphic below.

Disclaimer: This post is a brief overview of the brightline test and is general in nature. You should not treat it as legal advice and should seek appropriate advice based on your individual circumstances.

22/10/2023

20/10/2023

Ever wondered why we celebrate Labour Day? Our first Labour Day was held on 28 October 1890 and celebrated the struggle for an eight-hour working day, a right that carpenter Samuel Parnell had famously fought for 50 years earlier in 1840. Have a happy and safe Labour Weekend everyone!

24/09/2023

Refinancing, also known as remortgaging, involves replacing your current mortgage/home loan with a new one to secure improved terms or to borrow additional funds.

Do you need a lawyer to refinance? Yes, if it involves moving from a different lender then the mortgage registered on your property record of title in favour of your current lender will need to be discharged and a new mortgage will need to be registered in favour of your new lender. So, you’ll also need to factor in the cost of a lawyer (amongst other cost factors) when considering whether or not to refinance.

Keep in mind that the refinancing process can take some time, as you will need to meet with a broker/banker, negotiate interest rates, have loan documentation prepared and reviewed by your lawyer before you can refinance. You may want to get your ducks in a row sooner rather than later (particularly if your fixed term is expiring) and start talking to your broker, banker and trusted legal advisor.

22/09/2023

Happy client. Happy Friday everyone!

20/09/2023

Do you feel like your real estate agent and lawyer are talking in a different language sometimes? We take pride in breaking down complex property law jargon, ensuring it's simple for you to grasp.

18/09/2023

Have you ever wondered what exactly a property lawyer does? The term “Property” is pretty broad so you may be surprised by the range of matters property lawyers deal with. To name a few:

 Trust and Asset planning
 Enduring Powers of Attorney
 Wills & Estates
 Financing and Refinancing (Home Loans and Reverse Mortgages)
 Retirement Villages (Occupation Right Agreements)
 Conveyancing/Property Transactions (buying, selling, leasing or real estate)
 Neighbour Disputes (boundary Issues and nuisance)
 Relationship property (Separations or Prenuptial Agreements)

Probably the most common property matters are helping people buy or sell their houses. Which is a big deal, these are major transactions in our lives and involve checking agreements, titles, LIM reports, building reports, arranging finance, and possibly Kiwisaver withdrawals, and this is just the tip of the iceberg when completing a purchase. Luckily property lawyers deal with this daily and a good one can simplify this process and limit the stress for you.

Call Che today so he can make your purchase or sale process “easy as”.

17/09/2023

Hi, I’m Che, I'm a local (Hamilton) lawyer specialising in property law matters and I also have a background in litigation. I love helping people at both ends of the property ladder, be it first home buyers or those moving into retirement villages. I’m not your regular lawyer, you won’t find me in a suit, or working in stuffy offices and I work after hours and on weekends so that my appointments can fit in with your lifestyle. My goal is to make the sometimes complex legal process as simple and understandable as possible.

Outside of property law, I love getting out and about on my E-bike and in a former life I played professional football and represented New Zealand (the All Whites) but now can be seen down at my local Korikori Park coaching or having a kick-about with my kids.