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A mortgage or loan may be acquired by:
the sole owner of a Māori land block
all the owners of a Māori land block acting together
the trustees of a Māori land block who are empowered to raise finance against the block, or
a Māori Incorporation which holds Māori land.
To transfer Māori incorporation shares, the transferor (the
person transferring the shares) must file a transfer of shares
form (form 5 of the Māori Incorporations Constitution
Regulations 1994) with the secretary of the Māori
incorporation.
Kaporeihana whenua
Incorporation
Unlike trusts, a Māori incorporation is structured like a company and is governed by the Māori Incorporations Constitutions Regulations 1994 .
If the whenua is held within a Māori incorporation and a member of the PCA declines an offer to sell or transfer incorporation shares, the incorporation can buy those land shares.
In these cases, the family or personal
representative needs to approach the
incorporation secretary directly.
Entitlement to succession
Before 1 July 1993, Māori incorporation
shares were dealt with in the same way
as other personal property (such as cars
and cash).
In these cases, the family or personal
representative needs to approach the
incorporation secretary directly.
Entitlement to succession
Before 1 July 1993, Māori incorporation
shares were dealt with in the same way
as other personal property (such as cars
and cash).
