The Sell Land Contract is a fundamental legal document used in New Zealand real estate transactions to formalize the sale and purchase of land property. It serves as the primary agreement between a vendor and purchaser, incorporating all essential terms and conditions required under New Zealand law, particularly the Property Law Act 2007 and the Land Transfer Act 2017. This document is essential for any land transaction in New Zealand, whether residential, commercial, or rural, and must include specific provisions regarding title transfer, settlement processes, and statutory compliance. The contract addresses key aspects such as property description, purchase price, settlement terms, warranties, and conditions precedent, while also accommodating specific requirements for overseas buyers, GST considerations, and Maori land rights where applicable.
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1. Parties: Full legal names and details of the vendor and purchaser
2. Background: Context of the sale and brief description of the property
3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpretation
4. Agreement to Sell and Purchase: Core agreement section stating the vendor's agreement to sell and purchaser's agreement to buy
5. Property Description: Detailed legal description of the land and any improvements
6. Purchase Price: The agreed purchase price and payment terms, including deposit requirements
7. Settlement: Settlement date, time, and process requirements
8. Title and Transfer: Requirements for title transfer and registration
9. Property Inspections: Rights and obligations regarding property inspections
10. Warranties and Undertakings: Vendor's warranties about the property and both parties' undertakings
11. Default: Consequences of default by either party
12. Risk and Insurance: Allocation of risk and insurance requirements until settlement
13. Notices: How formal notices must be given between parties
14. General Provisions: Standard contract clauses including governing law, entire agreement, etc.
15. Execution: Signing provisions and execution blocks
1. Overseas Investment Consent: Required when purchaser is an overseas person under the Overseas Investment Act
2. GST Provisions: Required when the transaction involves GST-registered parties or commercial property
3. Tenancies: Required when the property is sold subject to existing tenancies
4. Conditions Precedent: Used when the sale is subject to specific conditions such as finance or due diligence
5. Building Compliance: Required for properties with recent construction or pending code compliance certificates
6. Resource Management: Required when there are resource consent issues or requirements
7. Body Corporate: Required for unit title properties
8. Chattels: Detailed provisions about chattels when significant items are included in sale
9. Maori Land Provisions: Required when property involves Maori land or related interests
1. Schedule 1 - Property Details: Detailed property description, including certificate of title references and legal descriptions
2. Schedule 2 - Chattels List: Comprehensive list of chattels included in the sale
3. Schedule 3 - Special Conditions: Any special conditions agreed between the parties
4. Schedule 4 - Warranty Schedule: Detailed vendor warranties about the property
5. Appendix A - Title Documents: Copy of certificate of title and relevant registered documents
6. Appendix B - LIM Report: Land Information Memorandum report if obtained
7. Appendix C - Property Plans: Relevant plans, including floor plans and site plans
8. Appendix D - Tenancy Documents: Copies of existing tenancy agreements if applicable
9. Appendix E - Building Reports: Any building inspection reports or certificates
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Agriculture (for rural properties)
Commercial Property
Residential Property
Tourism (for hospitality properties)
Urban Development
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Risk Management
Corporate Services
Acquisitions
Investment
Development
Operations
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancing Lawyer
Property Manager
Land Developer
Commercial Property Manager
Legal Counsel
Property Development Manager
Settlement Officer
Compliance Officer
Real Estate Transaction Coordinator
Property Acquisition Manager
Title Officer
Real Estate Partner
Property Investment Manager
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