Deadline for on-sold ex-gratia applications extended
Applications for the Government on-sold ex-gratia payment must be completed by 14 October 2020.
Canterbury homeowners of on-sold, over-cap properties who purchased houses before 14 August 2019 now have an extra two months to apply for an ex-gratia payment to help repair earthquake damage.
The deadline to apply for the Government grant through the Earthquake Commission (EQC) has been extended to 14 October 2020.
The extension is an opportunity for anyone who bought a house before 14 August 2019 and have since discovered earthquake-related damage to register for the ex-gratia payment.
There are a number of requirements to be met to be eligible for the ex-gratia payment, including that the original homeowners must have lodged at least one claim with EQC and that claim must be transferred to the new owner – this process is called ‘assignment’.
The most commonly used documentation to confirm the assignment has been agreed is a Deed of Assignment (DOA), a legal document transferring ownership of a real estate property from one party to another. When selling or buying a house with earthquake damage it is important to ensure any claim is being assigned from the old owner to the new owner of the property. This ensures the benefits and rights of the claim are passed over to the new owner.
Information on the On-Sold programme and the media release about the extended deadline can be found on the EQC website.