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Simple Land Purchase Agreement Template for New Zealand

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Key Requirements PROMPT example:

Simple Land Purchase Agreement

"I need a Simple Land Purchase Agreement for a residential property in Auckland, New Zealand, with settlement scheduled for March 15, 2025, including special conditions for a building inspection and finance approval."

Document background
The Simple Land Purchase Agreement is a fundamental legal document used in New Zealand real estate transactions to formalize the sale and purchase of land between parties. This document is particularly suited for straightforward property transactions where standard terms and conditions apply, without complex commercial or development considerations. It encompasses all essential elements required by New Zealand law, including property description, price, settlement terms, and statutory warranties, while adhering to requirements set forth in the Property Law Act 2007 and related legislation. The agreement serves as both a binding contract and a reference document for the conveyancing process, providing clarity and certainty for all parties involved in the transaction.
Suggested Sections

1. Parties: Identifies and provides full legal details of the vendor and purchaser

2. Background: Outlines the context of the agreement, including brief property description and parties' intention to sell/purchase

3. Definitions: Defines key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including legal description, title references, and included fixtures/fittings

5. Purchase Price: States the agreed purchase price and payment terms including deposit requirements

6. Settlement: Details of settlement date, time, and process including requirements for payment completion

7. Title and Transfer: Provisions regarding transfer of title and associated requirements

8. Property Inspection: Terms regarding the purchaser's right to inspect the property before settlement

9. Vendor's Warranties: Standard warranties provided by the vendor regarding the property

10. Default: Consequences and remedies in case either party defaults on their obligations

11. General Provisions: Standard contractual terms including notices, amendments, and governing law

12. Execution: Signature blocks and execution requirements

Optional Sections

1. Conditions Precedent: Used when the agreement is subject to specific conditions such as finance, building inspection, or LIM report

2. Tenancy Provisions: Required if the property is sold with existing tenants or tenancy agreements

3. GST Provisions: Included when either party is GST registered or the transaction has GST implications

4. Unit Title Provisions: Required if the property is a unit title under the Unit Titles Act

5. Overseas Investment Provisions: Required if the purchaser is an overseas person under the Overseas Investment Act

6. Building Warranties: Included for newly constructed properties or recent renovations

7. Remediation Provisions: Used when there are known issues requiring remediation post-settlement

8. Vendor's Works: Required when the vendor needs to complete specific works before settlement

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property description, including title references, legal description, and land area

2. Schedule 2 - Included Chattels: Itemized list of chattels included in the sale

3. Schedule 3 - Payment Schedule: Breakdown of payment terms including deposit and settlement payments

4. Schedule 4 - Warranties: Detailed list of vendor's warranties about the property

5. Appendix A - Title Documents: Copy of the property's certificate of title and relevant instruments

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 - Inspection Reports: Any building, methamphetamine, or other relevant inspection reports

Authors

Alex Denne

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

Relevant legal definitions








































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Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Construction

Agriculture

Commercial Property

Residential Property

Property Investment

Urban Planning

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Risk Management

Operations

Finance

Sales

Business Development

Document Management

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Manager

Land Developer

Property Developer

Real Estate Broker

Title Officer

Property Consultant

Legal Counsel

Mortgage Broker

Property Valuer

Settlement Officer

Compliance Officer

Real Estate Transaction Coordinator

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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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