A Land Information Memorandum is an important document that can help you make an informed decision when buying or building a property.
What is a Land Information Memorandum (LIM)?
A LIM is a report that contains information held by the local council about a property. It includes information about the land, such as its legal description, zoning, any existing resource consents, and building permits, as well as any other relevant information that the council may have.
Why is a LIM important?
A LIM is important because it provides valuable information that can help you make an informed decision when buying or building a property. It can highlight any issues or restrictions that may affect the use or development of the land. It’s also a requirement under the Local Government Official Information and Meetings Act 1987 for councils to provide a LIM when requested.
How do you obtain a LIM?
To obtain a LIM, you need to request one from the local council where the property is located. You will need to fill out an application form and pay a fee. The council will then provide you with the LIM within 10 working days.
- What information does a LIM contain? A LIM contains information about the land and any buildings on the property. This includes:
Legal description of the land
Zoning and land use information
Building permits and any associated inspections
Drainage and flooding information
Hazardous substances and contaminated land information
Special features or land issues that may affect the property
Any outstanding notices or orders relating to the property
What are the limitations of a LIM?
It’s important to note that a LIM is not a guarantee that the property is free from defects or issues. It only contains information that the council has on record, and there may be other issues that are not included in the report. It’s also important to obtain professional advice from a lawyer or conveyancer before making any decisions based on the LIM.