The Land Option Agreement is a strategic legal instrument used in New Zealand real estate transactions when a potential purchaser requires time to evaluate a property acquisition opportunity or secure necessary approvals before committing to a purchase. This document is particularly valuable for property developers, investors, and businesses planning future expansion. It provides the option holder with security over the property while conducting due diligence, obtaining financing, or securing development approvals, without immediately committing to the full purchase. The agreement must comply with New Zealand's property law framework, including the Property Law Act 2007 and Land Transfer Act 2017, and typically includes detailed provisions about the option period, exercise mechanisms, purchase terms, and parties' obligations during the option period.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Parties: Identification of the option grantor (landowner) and grantee (option holder), including full legal names and addresses
2. Background: Context of the agreement, including property overview and parties' intentions
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. Grant of Option: Core terms of the option, including exclusivity and nature of the right granted
5. Option Period: Duration of the option, including start date and expiry date
6. Option Fee: Amount, payment terms, and status of the option fee (whether refundable or applied to purchase price)
7. Exercise of Option: Process and requirements for validly exercising the option
8. Purchase Price: Agreed purchase price or mechanism for determining it
9. Terms of Sale: Key terms that will apply if the option is exercised, including settlement period
10. Property Access: Rights of the option holder to access and inspect the property during the option period
11. Landowner's Obligations: Obligations of the landowner during the option period, including maintenance and restrictions on dealing
12. Default and Termination: Consequences of breach and circumstances allowing early termination
13. General Provisions: Standard clauses including notices, costs, governing law, and dispute resolution
1. Development Conditions: Used when the option holder requires certain development approvals or consents before exercise
2. Due Diligence: Include when the option holder requires a due diligence period before option exercise
3. Multiple Properties: Required when the option covers multiple land titles or parcels
4. Subdivision: Include when the option relates to land that requires subdivision
5. Third Party Consents: Used when the sale requires consent from third parties (e.g., lessees, mortgagees)
6. GST Provisions: Detailed GST treatment if either party is GST registered
7. Nominee Rights: Include if the option holder wants the right to nominate a purchaser
8. Staged Exercise: Used for options over multiple properties allowing staged exercise
1. Property Schedule: Detailed description of the property including title references and encumbrances
2. Option Exercise Notice: Pro forma notice for exercising the option
3. Purchase Price Calculation: Formula or mechanism for calculating the final purchase price
4. Sale and Purchase Agreement: Form of agreement to be entered into upon exercise of the option
5. Due Diligence Requirements: List of required due diligence items and standards
6. Development Conditions: Specific conditions relating to development approvals or requirements
7. Property Plans: Plans showing the property boundaries and any relevant features
8. Existing Encumbrances: Copies of existing easements, covenants, or other encumbrances
Find the exact document you need
Supply Purchase Agreement
A New Zealand-governed agreement establishing terms for the supply and purchase of goods between parties, including ordering, delivery, pricing, and quality requirements.
Download
Letter Of Intent To Purchase (Real Estate)
A preliminary document under New Zealand law expressing a potential buyer's intention to purchase specific real estate and outlining proposed purchase terms.
Download
Letter Of Intent To Purchase Commercial (Real Estate)
A preliminary document under New Zealand law expressing intent to purchase commercial property and outlining key proposed transaction terms.
Download
Letter Of Intent Commercial (Real Estate)
A preliminary document outlining proposed terms for commercial property transactions in New Zealand, setting the framework for property purchase negotiations while specifying binding and non-binding provisions.
Download
Lease To Buy Agreement
A New Zealand-compliant agreement combining a property lease with a future purchase option, setting terms for both rental period and eventual property acquisition.
Download
Option To Purchase Real Estate Agreement
A New Zealand-compliant agreement granting the exclusive right to purchase specified real estate at predetermined terms within an agreed timeframe.
Download
Equity Investment Contract
A New Zealand-governed agreement detailing the terms and conditions for an investor's equity acquisition in a company, including investment terms, shareholder rights, and governance provisions.
Download
Heavy Equipment Purchase Agreement
A New Zealand-governed agreement for the commercial purchase and sale of heavy equipment, including terms, specifications, and compliance requirements.
Download
Buyback Agreement
A New Zealand law-governed agreement establishing terms for the repurchase of assets, shares, or items by their original owner or issuing entity.
Download
Personal Property Addendum
A New Zealand legal document that supplements existing agreements by specifying terms and conditions related to personal property ownership, transfer, and management.
Download
Lease Agreement With Option To Purchase
A New Zealand-compliant agreement combining property lease terms with a future purchase option for the tenant.
Download
Commercial Lease Agreement With Option To Purchase
A New Zealand-governed agreement combining a commercial property lease with an option for the tenant to purchase the property under specified terms and conditions.
Download
Artwork Purchase Agreement
A New Zealand-governed agreement for the sale and purchase of artwork, ensuring legal transfer of ownership and protecting both buyer and seller interests.
Download
Aircraft Sale Agreement
A New Zealand-governed agreement for the sale and purchase of aircraft, including terms, conditions, and regulatory compliance requirements.
Download
Advance Agreement For Land Purchase
A New Zealand-governed agreement setting out terms and conditions for a future land purchase, including due diligence and completion requirements.
Download
Letter Of Agreement Between Buyer And Seller Of Land
A preliminary binding agreement under New Zealand law that establishes the essential terms and conditions between parties for the sale and purchase of land.
Download
Dealer Purchase Agreement
A New Zealand-compliant agreement between motor vehicle dealers and purchasers for the sale of vehicles, adhering to local automotive sales regulations.
Download
Asset Purchase Form
A New Zealand-compliant legal document facilitating the transfer of asset ownership from seller to purchaser, detailing terms, conditions, and requirements of the sale.
Download
Vehicle Purchase Contract
A New Zealand-compliant agreement for the sale and purchase of vehicles, incorporating essential terms and conditions under NZ law.
Download
Client List Purchase Agreement
A New Zealand-governed agreement for the sale and purchase of a client list, ensuring compliance with privacy and commercial laws while facilitating business transfer.
Download
Truck Lease To Own Agreement
A New Zealand-governed agreement establishing terms for leasing a commercial truck with an option to purchase at the end of the lease term.
Download
Owner Finance Purchase Agreement
A New Zealand-compliant agreement for property purchase where the seller provides direct financing to the buyer, combining property sale and loan terms.
Download
Business Buyout Agreement
A New Zealand-governed agreement documenting the terms and conditions for the sale and purchase of a business, including all essential transaction elements and regulatory compliance requirements.
Download
Option To Purchase Business Agreement
A New Zealand law-governed agreement granting the right to purchase a business under specified terms and conditions within an agreed timeframe.
Download
Agreement Of Purchase And Sale Form For Private Sale
A New Zealand-compliant legal agreement documenting the terms and conditions for the private sale of property between a vendor and purchaser.
Download
Franchise Purchase Agreement
A New Zealand-governed agreement establishing the terms and conditions for purchasing and operating a franchise business, including rights, obligations, and operational requirements.
Download
Quota Purchase Agreement
A New Zealand-specific agreement for the transfer of fishing quota shares under the Quota Management System, including purchase terms and regulatory compliance requirements.
Download
Commercial Lease Purchase Agreement
A New Zealand-governed agreement combining commercial property lease terms with purchase rights/obligations for the tenant to acquire the property under specified conditions.
Download
Price Purchase Agreement
A New Zealand-governed agreement setting out terms and conditions for purchase and sale of assets, including price, payment terms, and completion requirements.
Download
Goods Purchase Agreement
A New Zealand-compliant agreement setting out terms and conditions for the commercial purchase and sale of goods.
Download
Bond Purchase Agreement
A New Zealand-governed agreement setting out terms and conditions for the purchase of bonds between issuer and purchaser(s), compliant with local financial markets regulations.
Download
Pre Purchase Agreement
A New Zealand-governed agreement that establishes preliminary terms and conditions for a potential property or asset purchase, including due diligence requirements and conditions precedent.
Download
Equity Buyout Agreement
A New Zealand law-governed agreement facilitating the purchase and sale of company shares, outlining terms, conditions, and regulatory compliance requirements.
Download
Product Purchase Agreement
A New Zealand law-governed agreement setting out terms and conditions for the purchase and sale of products, including specifications, pricing, and delivery terms.
Download
Letter Of Intent To Purchase Shares
A preliminary document under New Zealand law outlining the proposed terms and conditions for a share purchase transaction, including both non-binding commercial terms and binding provisions like confidentiality.
Download
Land Option Agreement
A New Zealand-compliant agreement granting exclusive rights to purchase specified land within an agreed timeframe and terms.
Download
Entity Purchase Agreement
A New Zealand-governed agreement for the purchase and sale of an entity, including comprehensive terms, conditions, and transaction mechanics.
Download
Wholesale Purchase Agreement
A New Zealand-governed agreement establishing terms for wholesale purchase and supply of goods between commercial parties.
Download
Aircraft Purchase Letter Of Intent
A New Zealand law-governed preliminary document outlining key terms and conditions for a proposed aircraft purchase, serving as a framework for negotiating the final agreement.
Download
Option To Buy Contract
A New Zealand-governed agreement granting the right to purchase specified property at predetermined terms within an agreed timeframe.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)