Understanding Property Law Act 2007 in New Zealand

Running head: REAL ESTATE
Real Estate
Name of the Student:
Name of the university:
Authors Note:

1REAL ESTATE
Table of Contents
Answer to question 1..................................................................................................................1
Answer to question 2..................................................................................................................2
Answer to question 3..................................................................................................................3
Answer to question 4..................................................................................................................3
Answer to question 5..................................................................................................................4
Reference....................................................................................................................................4

2REAL ESTATE
Answer to question 1.
The law that is prevalent within the country in respect of the matters concerning
property that is being held up by an individual or an entity is known as the Property Law Act
2007. As per the guidelines of the act several terminologies pertaining to eh same have been
clearly defined (Cerutti et al. 2017).
For a particular matter or thing to be considered as a property there are several factors or
condition that is to be fulfilled by the same. All the factors and the consideration that are
needed to comply with the law are being stated clearly in the provisions of the law. Some of
the factors that are to be fulfilled are as follows:
a) The owner must establish actual control over the property.
b) The control exercised by the owner must be socially recognised.
c) It must be something over which the owner exercises complete ownership.
d) There must be something that the user must be able to exert power over.
Answer to question 2.
Some of the titles that the property in New Zealand includes are as follows:
a) Joint tenancy:
In case of the Joint tenancy two or more people purchase a property but the owners of
the property do not enjoy the divided shares in the house. Neither of the owners can
claim that they own a particular share in the property (Barnes et al. 2015). Both of
them jointly own a property. This kind of agreement is generally entered into by
couples
b) Tenants in common: