What happens if the artist has died?
After an artist’s death, the right to receive the resale royalty payment passes to their successor. However, the successor must meet the same eligibility requirement to receive payment (meaning they are a citizen or domiciled or resident in New Zealand or a reciprocating country or in the case of a body corporate, they are incorporated, registered, or carrying on business in New Zealand or a reciprocating country).
Multiple Successors: If there are 2 or more successors that hold a resale right after the artists death, each successor holds the share of the right that they inherit or that is transferred to them. All successors must register with RRA prior to payment of a royalty.
Can a Trust receive a royalty? Yes, if the trust holds the resale right then the Trust can register as the successor with RRA. Please contact us for more information.
Related Articles
What happens when the artist died before 1st of December 2024?
When the artist has died before the commencement of the Act, it is not their will that determines who succeeds the resale right – but rather NZ intestacy legislation. This is required by Section 2 of Schedule 1 of the Act (transitional provisions). ...
What happens when the sale is from an Artist’s Estate: Is it a Resale?
The resale royalty scheme applies to all sales after the first transfer of ownership (whether that first transfer was for money or not). This means it’s important that the parties consider whether the estate sale in question is (or is not) the first ...
What can an artist do if they don’t want to accept a royalty?
How to decline payment (s 19 the Act, & clause 12 the Regulations) A right holder may opt to decline to receive: payment of all or part of a resale royalty; and / or payment of a resale royalty on the future resale of any or all of their visual ...
Who is an “eligible artist”?
Checklist 3.1 IF the artist is alive at the time the contract for resale is entered into: is the artist: a New Zealand Citizen, or a person domiciled or resident in New Zealand; or a citizen or subject of, or a person domiciled or resident in, a ...
Should a resale involving an artist from overseas be reported to Resale Royalties Aotearoa (RRA)?
Yes, any qualifying resale of an original artwork, regardless of the artist’s country of origin, must be reported to Resale Royalties Aotearoa (RRA). Our role at RRA is to assess the eligibility of the artist and verify the validity of the resale ...