I want to sell my shares in my maori freehold land to the leasee. The property has been valued and i have offered it to

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Customer: i want to sell my shares in my maori freehold land to the leasee
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: the property has been valued and i have offered it to him in writing for $510,000. he came back with a written offer of $380,000. so after the 30 days i went back to him and made a counter offer saying that my original ofer was now off the table but that i was willing to
JA: Where is the land located?
Customer: wiling to make a sale at $380,000 but he would only get 62% of my 86.6 % shareholding
JA: Anything else you want the Lawyer to know before I connect you?
Customer: Yes wont be a moment
Answered by Chris The Lawyer in 1 hour 1 year ago
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Chris The Lawyer
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Chris The Lawyer
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Chris The Lawyer, Expert

Hi
I am a New Zealand lawyer based in Wellington and will help you with your question today. Please give me a minute to read the question

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Chris The Lawyer, Expert

You would need to get any transfer approved in the Maori Land Court, and they would want to know the current valuation, and if the lessee is part of your whanau. Is that what you needed?

Customer
THE land is up on the Maraetotara plateau in hawkes bay . the leasee is not part of my whanau. What i really want to know is is the leasee bound by the provisions of the te ture Whenua Maori Actwhen it comes to reaching an agreed price?
Customer
I HAVE PARKINSONS AND MY SPECH IS BAD LY EFFECTED
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Chris The Lawyer, Expert

The system will request a phone call. It looks like I am making the request, but it is an automatic request. I’m more than happy to talk on the phone if you’d like, but you are not required to accept the call request

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Chris The Lawyer, Expert

There is no specific rule about reaching a fair price under Te Ture Whenua Maori Land Act. It is really up to the parties to set the price

Customer
as in is he obliged to reach an agreement if we cant agreeto the point of appointing two registered valuers and an umpire if we cant agree. At the moment we are miles apart on price.
Customer
FAR YOU HAVE BEEN VERY HELPFUL. d OES THE RULE ABOUT HIM BING OBLIGED TO AGREE ON A PRICE NO LONGER APPLY
Customer
EVEN WH3EN HE HE HAS ACCEPTED THE FIRST RIGHT OF REFUSAL
Customer
HE HAS DONE THAT
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Chris The Lawyer, Expert

He should agree to a price and if his lease has the right to purchase then the two valuers and umpire can decide

Customer
i am pretty sure thathis lease has that right but i will go and check now .
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Chris The Lawyer, Expert

Most of those leases have that as a standard term
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