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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22829
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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Do I as the tennant of a commercial building, have to have a

Customer Question

Do I as the tennant of a commercial building, have to have a commercial lease agreement as a legal requirement . If the answer is yes , does it still apply if I am a 30 % share holder in that building
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.

It is not compulsory to have a lease if you don't want one. That applies whether you are an owner or not. There can be advantages in having a lease if you want to ensure that you have all of the relecvant expenses for your tax returns, but it's not essential. Sometimes a lease will add value to the building, when you sell, and can assign the lease. But this is all voluntary and not compulsory at law.

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