Agreement For Flat Sale Template for New Zealand

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Key Requirements PROMPT example:

Agreement For Flat Sale

"I need an Agreement For Flat Sale for a two-bedroom apartment in Auckland CBD that is currently tenanted, with settlement scheduled for March 2025, and the sale needs to include existing appliances and furniture."

Document background
The Agreement For Flat Sale is a legally binding document used in New Zealand for the transfer of ownership of unit title properties such as apartments or flats. This agreement is essential when selling or purchasing a flat in New Zealand, as it incorporates specific requirements under the Unit Titles Act 2010, Property Law Act 2007, and other relevant legislation. The document includes crucial details about the property, purchase price, settlement terms, body corporate arrangements, and necessary statutory disclosures. It is designed to protect both parties' interests while ensuring compliance with New Zealand property law requirements. The agreement is particularly important for unit title properties as it addresses unique aspects such as body corporate rules, shared facilities, and specific disclosure requirements that don't apply to standard residential property sales.
Suggested Sections

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

2. Background: Context of the agreement and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the flat, including unit number, boundaries, and accessory units

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

6. Title and Registration: Details of the unit title and registration requirements

7. Pre-settlement Disclosure: Vendor's obligations regarding disclosure of body corporate information as required by the Unit Titles Act

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

9. Settlement and Possession: Settlement date, possession arrangements, and key handover process

10. Body Corporate: Information about body corporate rules, fees, and obligations

11. Warranties: Vendor's warranties about the property and body corporate

12. Default: Consequences of default by either party

13. General Provisions: Standard legal provisions including notices, amendments, and governing law

Optional Sections

1. Chattels: List and conditions of chattels included in the sale, used when specific items are being included

2. Tenancy: Details of existing tenancy if the property is sold with tenants in place

3. GST: GST provisions if either party is GST registered

4. Overseas Investment Act: Additional provisions if the purchaser is an overseas person

5. Development or Renovation: Special conditions relating to ongoing or planned developments or renovations

6. Car Park: Specific provisions for car parking if sold separately or under special arrangements

7. Storage: Details of storage units if included in the sale

Suggested Schedules

1. Schedule 1: Property Details: Comprehensive description of the property including unit plan, boundaries, and accessory units

2. Schedule 2: Chattels List: Detailed inventory of all chattels included in the sale

3. Schedule 3: Body Corporate Information: Details of body corporate rules, fees, maintenance plans, and financial statements

4. Schedule 4: Pre-settlement Disclosure Statement: Statutory disclosure information required under the Unit Titles Act

5. Appendix A: Unit Plan: Copy of the unit plan showing the flat's location and boundaries

6. Appendix B: Title Documents: Copy of the certificate of title and relevant easements

7. Appendix C: Body Corporate Rules: Full copy of the current body corporate operational rules

Authors

Alex Denne

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

Relevant legal definitions
Relevant Industries

Real Estate

Legal Services

Property Management

Financial Services

Construction

Property Development

Urban Planning

Insurance

Relevant Teams

Legal

Real Estate Sales

Property Management

Conveyancing

Compliance

Documentation

Finance

Administration

Client Services

Risk Management

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Manager

Body Corporate Manager

Legal Executive

Mortgage Broker

Property Valuer

Real Estate Branch Manager

Settlement Officer

Legal Secretary

Property Administrator

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

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