A Land Information Memorandum (LIM) is information held by the local authority (council) in relation to your property. The LIM contains a summary of special characteristics of your property, including zoning (residential, mixed, commercial, number of dwellings per square metre), public and private stormwater services, any flooding issues, any subsidence issues, special conditions including historic places trust, building consents and Code of Compliance Certificates issued for the property.
A full property file should be obtained by any prospective purchaser and this file may contain:
- Certificate of Title
- Original floor plans
- Producer statements and electrical certificates for any work carried out on the property
- Building consents and Code of Compliance Certificates
It is important that you and your solicitor carefully review the information contained in the LIM report
NOTE: This information is not intended as legal advice. Your lawyer should always be involved in reviewing documentation in relation to the LIM and property file, including the Certificate of Title