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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 23068
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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We bought a property in 2004 it had a commercial aspect, the

Customer Question

We bought a property in 2004 it had a commercial aspect, the vendor left in 10 k. Due to dishonesty on their part (we had only paid back a few hundred dollars) we expressed our grievances to their solicitor in a faxed letter in October 2006 they purposely caused us financial loss. We heard nothing back that is until today we've never moved out of the area have not been hard to find. Nearly nine years later without any communication until now. Is there a time limit on such things?
Submitted: 2 years ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 2 years ago.
There are two relevant limitation periods which could affect you. If there is just an agreement as to repayment in an informal document, then the limitation period for making demand is six years. If there was a vendor or mortgage registered against the title, then this is a deed, and the limitation period is 12 years. So this will depend on the formality of the documents which have been prepared, and if you look at those and let me know I can advise more definitely
Customer: replied 2 years ago.
There was a deed it was prepared on the 4th of March 2004. So does that mean we are past the 12 year time frame. Interest would have started to incur a year later.
Customer: replied 2 years ago.
Okay next just realised it would be next year
Expert:  Chris The Lawyer replied 2 years ago.
So as it is a deed they can still raise the issue. But of course you can still raise the defence which you had at the time. The delay in bringing the claim may also be an issue. So you should certainly raise that in terms of your other defences