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House Contract for New Zealand

House Contract Template for New Zealand

A comprehensive legal agreement governed by New Zealand law that facilitates the sale and purchase of residential property. This document outlines the terms and conditions of the property transfer, including purchase price, settlement details, warranties, and specific conditions. It complies with New Zealand's Property Law Act 2007 and related legislation, incorporating standard clauses for property transactions while allowing customization for specific circumstances. The agreement ensures both parties' interests are protected and provides a clear framework for the property transfer process, including handling deposits, settlement procedures, and property possession arrangements.

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What is a House Contract?

The House Contract serves as the primary legal instrument for residential property transactions in New Zealand. It is designed to meet the requirements of the Property Law Act 2007 and associated legislation, providing a standardized yet flexible framework for property sales. This document is essential when transferring residential property ownership, whether for standard single-dwelling houses, apartments, or other residential properties. The contract typically includes crucial details such as property description, purchase price, settlement terms, conditions precedent (like finance and building inspection), warranties, and specific provisions relevant to the property type. It's commonly used by real estate professionals, lawyers, and private parties engaging in property transactions, and can be adapted to accommodate various scenarios such as new builds, existing properties, or properties under development. The agreement ensures compliance with New Zealand property law while protecting the interests of both vendors and purchasers throughout the transaction process.

What sections should be included in a House Contract?

1. Parties: Identification and details of the vendor and purchaser

2. Background: Context of the sale and basic property information

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property including address, title details, and land area

5. Purchase Price: Agreed purchase price and payment terms including deposit details

6. Settlement and Possession: Settlement date, possession arrangements, and key milestones

7. Title and Transfer: Requirements for title transfer and associated obligations

8. Warranties and Undertakings: Standard warranties from both parties regarding the property and transaction

9. Conditions: Standard conditions including finance, building inspection, and LIM report

10. Risk and Insurance: Allocation of risk and insurance requirements until settlement

11. Default: Consequences of default by either party

12. General Terms: Standard contract terms including notices, time of essence, and governing law

What sections are optional to include in a House Contract?

1. Chattels: Detailed list of chattels included/excluded in the sale, used when specific items need to be listed

2. Tenancies: Details of existing tenancies, required if the property is sold with tenants in place

3. GST: GST provisions, required if either party is GST registered or the transaction is subject to GST

4. Building Warranties: Additional warranties for newly constructed properties or recent renovations

5. Body Corporate: Specific provisions for apartments or units under body corporate management

6. Development Provisions: Special conditions for properties under development or with future development potential

7. Overseas Investment: Additional provisions required if purchaser is an overseas person under the Overseas Investment Act

8. Maori Land: Special provisions required if the property involves Maori land

9. Multiple Owners: Additional provisions for properties with multiple vendors or purchasers

What schedules should be included in a House Contract?

1. Schedule 1 - Property Details: Detailed property information including title references, area, and zoning

2. Schedule 2 - Chattels List: Comprehensive list of all chattels included in the sale

3. Schedule 3 - Special Conditions: Any special conditions agreed between the parties

4. Appendix A - Title Documents: Copy of the property title and relevant instruments

5. Appendix B - LIM Report: Land Information Memorandum report from the local council

6. Appendix C - Property Inspection Report: Building inspection report if obtained

7. Appendix D - Body Corporate Rules: Body corporate rules and information (if applicable)

8. Appendix E - Plans and Drawings: Property plans, boundary details, and building drawings where relevant

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

New Zealand

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions







































Clauses































Relevant Industries

Real Estate

Legal Services

Banking and Finance

Construction

Property Development

Insurance

Property Management

Local Government

Conveyancing Services

Property Investment

Relevant Teams

Legal

Real Estate

Property Management

Conveyancing

Mortgage Services

Settlement

Compliance

Property Development

Sales

Risk Management

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Specialist

Property Manager

Mortgage Broker

Bank Manager

Property Developer

Legal Executive

Settlement Officer

Property Valuer

Building Inspector

Real Estate Partner

Property Law Associate

Compliance Officer

Title Officer

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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