homeland Property Law will accept and act on your instructions on the following general terms and the Standard Terms of Engagement:
Identification
To comply with our obligations under the Rules of Professional Conduct for Barristers & Solicitors and the provisions of the Financial Transactions Reporting Act 1996, clients will be asked to provide photo identification such as a passport, driver’s licence, firearms licence or photo credit card to verify their identity. In addition, if transferring or mortgaging a property, clients will be asked to provide a document showing the land owner's name and the physical address of the property, such as a rates demand, bank statement or utility account.
Anti-Money Laundering and Countering Financing of Terrorism Customer Due Diligence
From July 1, 2018, lawyers are required by the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 to conduct customer due diligence on clients before a file can be opened or advice given on a matter. We are required to obtain and verify information including each client’s full name, date of birth and address and obtain details of the purpose of the proposed transaction and instruction. For companies and trusts we are required to obtain information in respect of the entity as well as the persons who control the entity (such as directors, shareholders, trustees and beneficiaries) and persons who are authorised to act on behalf of the entity. Further information such as the source of funds for the transaction and the source of the client’s wealth may need to be obtained and verified.
Instructions
We will carry out the services specified for the required Conveyancing Package at the specified rate using due care and skill.
Costs
Our costs include disbursements incurred on your behalf such as land title searches, Personal Property Security Register searches, registration and agency costs, photocopying, printing, facsimile and toll charges, couriers and similar out of pocket expenses or payments made on your behalf.
Our costs also include Goods and Services Tax charged at the current rate as required by law (currently 15.0%).
Payment
Sales: We will deduct our costs from the proceeds of sale and provide an invoice to you accordingly.
Purchase or refinancing: We will require sufficient funds to be placed in our trust account on your behalf to cover our costs on the settlement of a purchase or the repayment of a mortgage.
We will send you a statement of all monies that have been held in our Trust Account on your behalf detailing how that money has been spent.
