Apartment Sale Contract Template for New Zealand

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Key Requirements PROMPT example:

Apartment Sale Contract

"I need an Apartment Sale Contract for a luxury penthouse in Auckland, New Zealand, with settlement scheduled for March 2025, that includes special provisions for the included high-end appliances and exclusive rooftop access rights."

Document background
The Apartment Sale Contract is a specialized legal document designed for use in New Zealand property transactions involving apartments or unit title properties. It is essential when transferring ownership of an apartment, incorporating specific requirements under New Zealand's Unit Titles Act 2010, Property Law Act 2007, and related legislation. This contract addresses unique aspects of apartment ownership, including body corporate obligations, shared facilities, and mandatory disclosure requirements. It should be used for all apartment sales in New Zealand to ensure compliance with local laws and to protect both vendors and purchasers. The document includes provisions for deposit payment, settlement procedures, property inspection rights, and body corporate matters, making it distinct from standard house sale agreements.
Suggested Sections

1. Parties: Identification of the vendor and purchaser, including full legal names and addresses

2. Background: Context of the transaction 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 apartment, including unit number, floor level, and allocated parking/storage

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

6. Settlement and Possession: Settlement date, key transfer, and possession arrangements

7. Title and Unit Plan: Details of the unit title, share allocation, and relevant survey information

8. Body Corporate: Body corporate details, rules, and ongoing obligations

9. Warranties and Undertakings: Vendor's warranties about the property and undertakings until settlement

10. Due Diligence: Buyer's rights to investigate the property and related documentation

11. Conditions: Standard conditions including finance, building inspection, and title review

12. Default: Consequences of default by either party

13. General Provisions: Standard contract clauses including notices, amendments, and governing law

Optional Sections

1. Chattels: List of moveable items included in the sale - used when specific items are being included

2. Rental Agreement: Details of existing tenancy - used when property is sold with tenants in place

3. GST Provisions: GST-specific clauses - used when either party is GST-registered

4. Development Provisions: Used for off-plan purchases or when the apartment is under construction

5. Overseas Investment: Additional clauses for foreign buyers - used when purchaser is not a New Zealand resident

6. Remediation Works: Details of any pending or ongoing building works - used when repairs or upgrades are planned

7. Property Sharing Arrangement: Used when multiple purchasers are buying together under specific sharing arrangements

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive description of the apartment, boundaries, and included features

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

3. Schedule 3 - Body Corporate Information: Body corporate rules, fees, and maintenance plans

4. Schedule 4 - Unit Title Disclosure Statement: Mandatory disclosure statement under the Unit Titles Act

5. Schedule 5 - Pre-settlement Disclosure Statement: Required disclosure of body corporate information before settlement

6. Schedule 6 - Additional Records: Copies of relevant documents including LIM report, title, and building reports

7. Appendix A - Floor Plan: Detailed floor plan of the apartment and common areas

8. Appendix B - Car Park/Storage Plan: Plans showing allocated parking and storage areas

9. Appendix C - Body Corporate Minutes: Recent body corporate meeting minutes and financial statements

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
Clauses
Relevant Industries

Real Estate

Legal Services

Banking and Finance

Insurance

Property Management

Construction and Building

Property Development

Professional Services

Property Investment

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Sales

Settlements

Risk Management

Commercial

Residential Property

Conveyancing

Corporate Services

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancer

Property Manager

Body Corporate Manager

Legal Counsel

Property Developer

Investment Advisor

Mortgage Broker

Settlement Officer

Compliance Officer

Real Estate Partner

Property Consultant

Sales Manager

Branch Manager

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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