A property lawyer says new proposals take a major burden off realtor's shoulders. 

The Government is streamlining the process for selling a house held by a family trust - as it makes changes to laws preventing money laundering. 

It says real estate agents must currently collective excessive amounts of information about the trust.

But McVeagh Fleming Associate Mario Thorne says documents are often missing - or never existed.  

"You're dealing with really straightforward situations where it's clear where the funds have come from - and then to cast the net too wide and ask for these invasive documents, it's cracking a nut with a sledgehammer."

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A property lawyer says new proposals take a major burden off realtor's shoulders.&nbsp;
The Government is streamlining the process for selling a house held by a family trust - as it makes changes to laws preventing money laundering.&nbsp;
It says real estate agents must currently collective excessive amounts of information about the trust.
But McVeagh Fleming Associate Mario Thorne says documents are often missing - or never existed. &nbsp;
"You're dealing with really straightforward situations where it's clear where the funds have come from - and then to cast the net too wide and ask for these invasive documents, it's cracking a nut with a sledgehammer."
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

Best of Business

Mario Thorne: McVeagh Fleming Associate on the Government streamlining the process for selling houses owned by family trusts

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f064f79a-2e47-4440-997a-b314007023ce/transcript