How to obtain a NZ Land Information Memorandum (LIM)
It is advisable if buying or selling a New Zealand property (especially through auction) that you obtain from your local council a Land Information Memorandum (LIM), which contains the council's records relating to the property.
The information contained in a LIM is important in assessing the value and potential use of the property. If you are buying, a LIM may give you the opportunity to reconsider the price you are offering, or to confirm your contract for the purchase if you have made it subject to your approval of the LIM's contents.
How do I apply?
An application for a Land Information Memorandum must be made in writing to your local council. There is a fee for obtaining the LIM; this varies, depending on the particular council and the property involved. For example - The Auckland Council's LIM application process
You will usually be issued the LIM within 10 working days.
What information is included in a LIM?
The contents of a LIM include:
- special features or characteristics of the land concerned (if any), including potential erosion, subsidence, slippage, flooding or likely presence of hazardous contaminants
- records of stormwater or sewage drains
- details of any rates owing in relation to the land
- any consents or notices affecting the land or any building that were previously issued by the council
- any certificate issued by a building certifier
- the use to which the land may be put and conditions attached to its use
- any notices to the council by any statutory organisation that has the power to classify land or buildings for any purpose
- any notices to the council given by any network utility operator under the BUILDING ACT 2004
- any other information that the council thinks relevant
- You should discuss the LIM and the impact of the information that it discloses with your solicitor.
- If you are buying a property you should include a term in the agreement for sale and purchase making the purchase conditional on your solicitor's approval of the contents of the LIM.