About Us
Contact Us
Frequently Asked Questions
What's New
Feedback
Home
LAND
PPSR
LANDinfoMAP
LINZ Approved Forms
COMPANIES
NEWSLETTER
First time visitor?
Our 5 Guiding Principles
Image viewing software setup
MS Word and Print forms
Pricing


N e w s l e t t e rMA r c h i v e
BACK TO CURRENT NEWSLETTER

n e w s l e t t e r
< MI S S U E M F O U R M> MM < M 1 5 M A U G U S T M 2 0 0 2 M>
As experienced registration agents, we constantly keep abreast of the latest news, rulings and services in relation to land and company information.
In this section, you will be able to access our monthly newsletters, which are packed with information useful to your practice.

Introduction

Welcome to the August edition of our LANDinfoNET Ltd newsletter, covering issues relating to LINZ search and registration, landonline, pending electronic registration automation, Personal Property Securities Register and more.

As you are aware LANDinfoNET Ltd was formed on June 1 by the combined commitment and amalgamation of Graham & Graham and Beresfort Legal with our core focus building on and continuing the relationship we have with you in providing a cost effective service to help you help your clients.

Should you wish to know more about the background of the afore mentioned companies, our staff, focus and commitment please visit the about us page for more information.

Although this website provides for the full range of LAND searching and PPSR search and registration we realise we do lose some of our "personal touch". We love building long term relationships with our customers and welcome your calls or visits on any matter.

For those of you who choose to utilise this site for ordering, we are now in the process of implementing some exciting new features that will customise the site to your firm and staff, with various options including invoices being sent electronically with the search. We will begin testing shortly and will keep you advised of all benefits.

LAND ON LINE STAGE TWO - ELECTRONIC LODGMENT

The Land Transfer (Computer Registers and Electronic Lodgment) Amendment Act 2002 allows for the electronic lodgment of certain standard documentation (Discharges, Transfers, Mortgages) direct on to an electronic Title, without the need for LINZ to sight the original documentation or outstanding duplicate Title. LINZ will provide digital licenses that provide registration certificates for solicitors wishing to register electronically. It is envisaged that both parties wishing to effect settlement will log into an electronic work group, and settle and register electronically simultaneously. This procedure will be trialed later this year with implementation mid 2003

We are hearing from a number of our clients, concerned that they may be forced into having to settle and register electronically. Although the Act allows for electronic lodgment to be compulsory, we cannot foresee this happening within this decade (and perhaps the next).

We have discussed the fundamentals with the Registrar General of Land and are now confident that should you wish to utilise the benefits of same day electronic settlement and lodgment (once available), that we will be in a position to act as your agents upon an undertaking from you, for us to act within the electronic work group on your behalf.

The Registrar General of Land is now in the process of adopting an audit process for those lodging electronically, as the registration certificate also enables you to execute electronically on behalf of your client. Once the Audit process is complete and documented we will initiate a system process and advise on how we will handle this type of lodgment for you with out your need to have a digital registration certificate and a working knowledge of the electronic work groups.

We want to reassure you that there will continue to be registration as we now know, and should parties for the other side of the settlement or your clients wish to settle and register electronically we will be able to act for you to allow electronic settlement and registration to take place.

Remember our core focus is to help you help your clients, we will continue to keep you informed through out the trial period and as information comes to hand.

Emailing searches direct to your desk top - LINZ and PPSR

We are finding more and more of our clients are utilising our ability to email LINZ and PPSR searches direct to your desk top (or remote site). We do not charge to email therefore generating cost saving's from having the search faxed, and so much faster than by post. The searches are sent as TIFF from LINZ or PDF from PPSR, files can be opened by any computer running windows 95 or later. This provides the choice to view on screen, save direct to your clients file or print a hard copy.

If you are in an area with slow Internet connection or you do not wish to utilise our web site or email to order, please download our latest search and LINZ registration forms from printable forms.

REGISTERING CORRECT COLLATERAL DETAILS ON PPSR

When searching the PPSR, searching can be refined by collateral type; therefore registration using an incorrect collateral type can cause searches to fail due to misdescription, which may render the financing statement "seriously misleading".

To assist you choosing the correct collateral type here is a list of examples of collateral options available on the PPSR.

Collateral type available on PPSR
Example
Goods - Livestock Cows, sheep, ostriches
Goods - Crops Pip fruit, grape production, wheat production
Goods - Other Inventory, equipment, consumer goods, with description
Documents of Title Warehouse receipts
Chattel paper Hire purchase agreements
Investment securities Shares, options
Negotiable instruments A promissory note, a letter of credit
Money NZ dollars, Japanese yen, bank deposit of NZ$10 million lodged with bank
Intangibles Trademarks, patents and copyright, accounts receivable
All present and after acquired personal property All present and future assets
All present and after acquired personal property except As above excluding assets listed
Motor Vehicle Car, Motor cycle
Aircraft Helicopter, aeroplane, glider

Our policy when searching is to search all collateral types for an individual or organization to prevent excluding an incorrectly registered financing statement. Should you be in doubt as to what collateral type to show when submitting registration details to us, please advise to ensure a valid financing statement is registered.

F a r e w e l l

Thank you for taking the time to read our newsletter.
We look forward to continuing to provide you with information that will be of value to your practice. Please do not hesitate to contact us if you have any questions or comments in regard to this newsletter - we would love to hear from you.

All back issues are held on this site.

Disclaimer
Although every effort has been made to ensure the accuracy of the information within this newsletter, we are not liable for the results
of any action taken on the basis of the information given or any
errors or omissions.

© 2002 LANDinfoNET Limited

BACK TO TOP

PREVIOUS NEWSLETTERS
>ISSUE 1 - 14 AUGUST 2001
>ISSUE 2 - 3 DECEMBER 2001
>ISSUE 3 - 15 MAY 2002
in this issue
Introduction
Landonline Stage Two - Electronic Lodgements
Reminder regarding registration under Landonline
LINZ time frames - plans to approve, new titles to issue
Emailing searches direct to your desktop - LINZ and PPSR
Personal Property Securities Registration

Existing securities need to be registered on the PPSR by October 2002 to maintain current priority
Registering correct collateral details on PPSR

Reminder regarding registration under landonline
Under the Landonline system, certain types of documents are not required to be produced to LINZ for registration.

All new duplicate documents are not required, as only the one copy is now required to be scanned and then returned by LINZ (LINZ no longer hold a hard copy).

Other documents not required to be produced, are original mortgages where a partial or full discharge is registered, or a lease when a variation is registered.

If you need clarification on whether a document is required to be produced, please contact us and we can advise you accordingly.

Landonline has basically removed the requirement for declarations of loss being registered other than for lost Titles.

LINZ time frames - plans to approve, new titles to issue.
LINZ recently published their processing time standards under the Landonline environment being "95% of titles processed within 20 working days for 9 out of 12 months". We feel this "standard" certainly leaves plenty of scope for LINZ to work outside their 20 days on 5% of the dealing's at any time and all dealings for any 3 months of the year! With Murphy's Law looking over the most urgent dealing's, please feel free to contact us for an update on current time frames, prior to discussing time frames with your developer clients.

At the time of writing South Auckland has a turn around of approx 15 days to process the plan for approval and 18 days to issue the Titles (once the plan is approved).

Auckland is now taking approx 30 days to process the plan for approval and 30 days to issue the Titles (once the plan is approved).

Auckland is now going through the same very rough time frames the rest of the country went through when converting to Landonline. We would anticipate Auckland time frames to be inline with the rest of the country by about November when the conversion is due for completion.

Personal property securities registration
We have been registering both new and existing securities on to the PPSR since June 2002 when the register came into force. We have the full facility to register both new and existing securities for individuals and organisations on this site. Due to the nature and the changing content of the information required to register on the PPSR, depending on certain criteria, we would be most grateful if you could utilise this site to provide us with the information you require registered.

Existing securities need to be registered on the PPSR by 31 October 2002 to maintain current priority
Please do not leave registering your existing securities until the last minute. Due to the complexity and different criteria required to register on the PPSR, we strongly recommend registering existing securities well before the cut off date of 31 October 2002 (which is fast approaching). This will ensure that the securities are registered and continue to have priority as of the date registered under the statutes prior to the PPS Act 1999.

From 1 November 2002 you will no longer have the benefit of priority dates registered under the Companies Register of Charges, High Court Chattels Security or the Motor Vehicle Securities Register, priority will be at the date and time of registration on the PPSR regardless.