How actively is CERA pursuing EQC land claims for the Residential Red Zone?
Asked: 18 June 2014
CERA understands that EQC is currently awaiting the Court’s decision in relation to EQC’s application for a Declaratory Judgment regarding their proposed land settlement methodology, as this will underpin land claim settlements throughout Canterbury, including the residential red zone.
Once the results of the Declaratory Judgement are known, EQC will finalise settlements with CERA for the assigned claims on Crown-owned land. CERA will then contact the previous property owners who accepted Option 2 of the Crown offer to arrange “top up” payments if the land claim recovery on a particular property exceeds the rateable land value paid by CERA. These payments will be made in accordance with the terms of the Agreement for Sale and Purchase of the property.
CERA has no involvement in the land claims for privately owned properties in the residential red zone. EQC will be dealing directly with those property owners in relation to their land claims.