The Property Agreement serves as a fundamental legal instrument for property transactions in New Zealand, designed to comply with local property law requirements and regulations. This document is essential when transferring property interests, whether for residential or commercial purposes, and must align with the Property Law Act 2007 and related legislation. It's typically used in situations involving property sales, transfers, or significant property interest modifications, providing comprehensive coverage of all aspects of the transaction including property details, payment terms, warranties, and settlement conditions. The agreement is adaptable to various property types while maintaining compliance with New Zealand's specific legal requirements and property transfer procedures.
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1. Parties: Identification and details of all parties to the agreement, including legal names, addresses, and any registration numbers for companies
2. Background: Context of the agreement, including brief property description and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property, including legal description, title references, and physical address
5. Purchase Price and Payment Terms: Details of the purchase price, payment schedule, and payment methods
6. Settlement and Completion: Terms and process for settlement, including timing and conditions
7. Title and Transfer: Provisions regarding transfer of title and registration requirements
8. Warranties and Representations: Warranties given by both parties regarding the property and their capacity to enter the agreement
9. Default and Remedies: Consequences of default and available remedies for both parties
10. General Provisions: Standard legal provisions including governing law, notices, and amendment procedures
1. Tenant Rights and Obligations: Required if the property is being sold with existing tenants
2. Body Corporate Provisions: Required for properties under unit title ownership
3. GST Provisions: Required if either party is GST registered and the transaction includes GST
4. Due Diligence Conditions: Optional section for buyer's due diligence requirements and timeframes
5. Finance Conditions: Required if the purchase is subject to finance approval
6. Property Inspection: Optional section detailing property inspection requirements and outcomes
7. Resource Management Compliance: Required if there are specific resource management issues or consents
8. Overseas Investment Provisions: Required if the buyer is an overseas person under the Overseas Investment Act
1. Schedule 1 - Property Description: Detailed property description including boundaries, improvements, and fixtures
2. Schedule 2 - Title Documents: Copies of title documents and relevant registration details
3. Schedule 3 - Payment Schedule: Detailed breakdown of payment terms and schedules
4. Schedule 4 - Chattels List: Inventory of chattels included or excluded from the sale
5. Schedule 5 - Special Conditions: Any special conditions or variations to standard terms
6. Appendix A - Property Plans: Plans, drawings, or maps of the property
7. Appendix B - Compliance Documents: Relevant compliance certificates and consents
8. Appendix C - Inspection Reports: Property inspection reports and building reports if applicable
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Investment and Fund Management
Housing and Urban Development
Commercial Property
Residential Property
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Investment
Finance
Operations
Risk Management
Asset Management
Business Development
Relevant Roles
Property Lawyer
Real Estate Agent
Property Manager
Conveyancer
Legal Counsel
Property Development Manager
Investment Manager
Compliance Officer
Real Estate Transaction Coordinator
Property Portfolio Manager
Asset Manager
Real Estate Broker
Settlement Officer
Title Officer
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