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They are particularly common in relation to rented accommodation, where they may also be referred to as a tenancy deposit, bond deposit, [1] or bond. The owner of the item (the landlord in the case of accommodation) will take a sum of money from the person(s) renting the item (the tenant).
The Housing New Zealand Corporation in its current form is a statutory corporation that was established on 1 July 2001 under the Housing Corporation Act 1974, as amended by the Housing Corporation Amendment Act 2001. This was an amalgamation of Housing New Zealand Limited, Community Housing Limited, and the Ministry of Social Policy.
Some lease agreements require the tenant to complete such a certificate or to waive their responses by allowing the landlord to complete the estoppel certificate under certain circumstances. [ 7 ] If the language in the lease so provides, a tenant can be in default under a lease after failing to comply with a request from the landlord for an ...
A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
When the deposit is under an insurance-based scheme, the landlord or the letting agent will hold the deposit but have to pay a fee to ensure the landlord will not illegally retain the deposit at the end of the tenancy. If at the end of the tenancy the landlord does not release the deposit, the insurance will pay back the tenant.
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral [1]) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. [2]
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The Queen signed the Letters Patent on 28 October 1983, [13] and soon after they were counter-signed by Muldoon, [10] and sealed by the Seal of New Zealand. [2] This was the first time a New Zealand prime minister had signed the document, symbolising that it had been "patriated"—that is, made a New Zealand legal instrument. [1]
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