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On Demand Module l Electronic booklet l PowerPoint Presentation
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Section 21 agreements, whether to contract out or to settle disputes under the Property (Relationships) Act 1976, continue to be commonplace. Often these agreements require a substantial degree of input and knowledge on the part of practitioners who want to ensure that the agreements withstand the test of time.
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Author: Elizabeth Heaney
Published: 14 October 2024
Pages: 41
Under ss 21, 21A and 21B of the Property (Relationships) Act 1976 (PRA), parties are able to contract out of the provisions of the PRA. However, those contracting out agreements (under s 21) or settlement agreements (under ss 21A and 21B) are only binding on the parties if witnessed by a lawyer who certifies that they have given their client independent legal advice before signing the agreement. This opens up the potential for lawyers acting on such agreements to become liable if they do not provide adequate independent legal advice.
The first half of this paper gives an overview of the potential causes of actions lawyers may face if they fail to give adequate advice in respect of contracting out and settlement agreements. The second half of the paper explores the ways in which lawyers may breach their obligations and sets out some “dos” and “don’ts” to assist lawyers advising on these agreements.
These are the slides included in the presentation.
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Elizabeth Heaney Tompkins Wake Auckland |