Land Information Memorandum
A Land Information Memorandum (LIM) is a legally-binding document that states everything we know about the history of a property and any issues that may affect the property. Purchasers who want to make an offer on a property have the ability to subject that property to a LIM report.
Why should you buy a LIM?
A LIM report can be used as evidence by a property owner to show potential buyers that the land is legally sound - this could speed up a sale.
A LIM enables you to check that all of the buildings and structures on a property are approved; such as decks, conservatories, spa pools and fire places.
Many buyers have ideas of how they would like to develop a property. A LIM will help you identify potential development restrictions before you buy. You may find it useful to know if your intended use of the land is feasible.
It's important to be aware of any potential hazards on your new property, e.g. a LIM may show areas requiring specific foundations or having specific restrictions on development.
If you own a property with unauthorised building work, your insurance may be invalid and it could be expensive for you to rectify the unauthorised work.
A LIM is often required to:
- Provide a pre-purchase or pre-lease check
- Provide a property valuation
- Provide assurance to prospective purchasers, e.g. at an auction
- Assure lenders and insurers
- Have available to interested parties when marketing a property
How to purchase a Land Information Memorandum
To apply for a LIM, complete the application form, together with the required fee, plus a copy of the property title and send it to the Council address below.
Typically LIMs are produced within five working days, although 10 working days are allowed for. If you require a LIM to be produced within two working days then you should apply for an Urgent LIM.
The LIM process is coordinated through:
Community and Environmental Services Department
Stratford District Council
PO Box 320
Phone (06) 765 6099
If you would like to view information on a certain property within the Taranaki Region please use the free Taranaki Regional Xplorer.
Contents of a Land Information Memorandum
The completed LIM will include information found in the Council’s records relating to the following matters:
- Known hazards such as flooding or known fill
- Information on storm water and sewer services to or within the property
- Information on the availability of water services
- A summary of the rates account
- Rating valuation
- Building consents/permits and related information
- Other consents, licences and certificates
- Requisitions, orders and notices
- Swimming pool compliance
- District Plan information including zoning and designations and an indication of the status of your intended use of the property
- Information relating to known historic sites or buildings
- Information concerning the location of Council reticulated services
- Such other information that the Council considers may be helpful
- TerraView NZ Ltd map
- Aerial photograph
- Topographic map (rural only)
Pre-Purchase Building Inspections
When buying a property, purchasers may obtain a pre-purchase building inspection. Council Building Control Officers are not permitted to undertake pre-purchase inspections.
To contact a person to carry out a pre-purchase inspection look in the Yellow Pages under 'building consultant' or 'building surveyor', or contact the New Zealand Institute of Building Surveyors, or contact a building professional.
- Last Updated: Thursday, 05 June 2014 09:48
24 HOUR PHONE:
(06) 765 6099
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