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Conveyance Agreement

Conveyance Agreement Template for New Zealand

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Key Requirements PROMPT example:

Conveyance Agreement

"I need a standard Conveyance Agreement for a residential property purchase in Auckland, New Zealand, with settlement scheduled for March 15, 2025, including provisions for an existing tenant who will remain in the property post-sale."

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Document background
The Conveyance Agreement is a fundamental legal document used in New Zealand property transactions to transfer real estate ownership from a vendor to a purchaser. This document is essential whenever real property is bought or sold in New Zealand, whether for residential, commercial, or industrial purposes. The agreement must comply with New Zealand's property law framework, particularly the Property Law Act 2007 and Land Transfer Act 2017. It includes crucial information such as property details, purchase price, settlement terms, warranties, and conditions precedent. The document serves as both a record of the transaction terms and a legally binding contract that protects the interests of all parties involved. A properly drafted Conveyance Agreement is critical for ensuring smooth property transfers and preventing future disputes.
Suggested Sections

1. Parties: Identifies and provides full legal details of the vendor (seller) and purchaser (buyer)

2. Background: Sets out the context of the agreement, including the vendor's ownership and intention to sell

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules

4. Property Details: Comprehensive description of the property including legal description, title references, and physical address

5. Purchase Price: Specifies the agreed purchase price, payment terms, and deposit requirements

6. Settlement: Details the settlement process, timing, and requirements for completion

7. Title and Transfer: Addresses title transfer requirements, registration process, and Land Transfer Act compliance

8. Vendor's Warranties: Lists warranties provided by the vendor regarding the property's condition and title

9. Purchaser's Warranties: Contains purchaser's confirmations and warranties, including financial capacity

10. Conditions: States any conditions that must be satisfied before the agreement becomes unconditional

11. Risk and Insurance: Allocates risk and responsibility for the property before settlement

12. Default: Specifies consequences and remedies for breach of agreement terms

13. General Provisions: Includes standard legal provisions like notices, governing law, and entire agreement clause

Optional Sections

1. Mortgage Terms: Required when there's an existing mortgage to be discharged or new mortgage to be registered

2. Tenant Provisions: Needed when the property is sold with existing tenancies

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

4. Overseas Investment Provisions: Required when the purchaser is an overseas person under the Overseas Investment Act

5. Building Warranty: Included for newly constructed properties or recent renovations

6. Body Corporate Provisions: Required for unit title properties

7. Chattels: Detailed when specific chattels are included in the sale

8. Development Provisions: Required when the property is part of a development or subdivision

Suggested Schedules

1. Property Schedule: Detailed description of land, improvements, and legal identifiers

2. Title Documents: Copies of relevant title documents and instruments

3. Chattels Schedule: Itemized list of chattels included in the sale

4. Outstanding Notices Schedule: List of any council or authority notices affecting the property

5. Tenancy Schedule: Details of existing tenancies if property is tenanted

6. Property Condition Report: Current condition assessment of the property

7. Plans and Drawings: Relevant property plans, boundary details, or building plans

8. Compliance Documents: Copies of building consents, code compliance certificates, and other regulatory approvals

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Authority
Business Day
Chattels
Completion Date
Conditions
Conveyance
Default Interest Rate
Deposit
Encumbrance
GST
Improvements
Land
Land Transfer Office
Legal Description
LINZ
Local Authority
Notice
Overseas Person
Parties
Possession Date
Property
Purchase Price
Purchaser
Rate of Interest
Record of Title
Registration
Resource Consent
Settlement
Settlement Date
Settlement Statement
Solicitor
Title
Transfer
Unit Title
Vendor
Vendor's Agent
Warranties
Working Day
Land Information Memorandum
Mortgage
Mortgagee
Outstanding Notices
Permitted Encumbrances
Possession
Rates
Regional Authority
Settlement Monies
Title Documents
Utilities
Clauses
Interpretation
Sale and Purchase
Title Transfer
Purchase Price
Deposit
Settlement
Property Transfer
Warranties
Due Diligence
Risk and Insurance
Default
Property Possession
Chattels
GST
Land Registration
Property Inspection
Mortgages
Caveat
Local Authority Compliance
Building Compliance
Environmental Compliance
Resource Management
Overseas Investment
Anti-Money Laundering
Tenancy
Body Corporate
Property Access
Utilities and Services
Rates and Outgoings
Notices
Force Majeure
Dispute Resolution
Governing Law
Assignment
Severability
Entire Agreement
Costs
Execution
Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Construction

Insurance

Local Government

Property Management

Professional Services

Residential Property

Commercial Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Risk Management

Operations

Sales

Customer Service

Documentation

Settlement

Relevant Roles

Property Lawyer

Real Estate Agent

Conveyancing Specialist

Property Manager

Legal Counsel

Contract Manager

Property Developer

Bank Manager

Mortgage Broker

Title Officer

Compliance Officer

Property Valuer

Building Inspector

Settlement Agent

Real Estate Transaction Coordinator

Industries
Property Law Act 2007: Primary legislation governing real property transactions in New Zealand, including rules for contracts relating to land, mortgages, and leases
Land Transfer Act 2017: Regulates the registration and transfer of land titles in New Zealand, establishing the land registration system and requirements for property transfers
Contract and Commercial Law Act 2017: Sets out general principles of contract law applicable to property transactions and commercial dealings
Anti-Money Laundering and Countering Financing of Terrorism Act 2009: Requires due diligence and verification of parties involved in property transactions to prevent money laundering
Overseas Investment Act 2005: Regulates property purchases by overseas persons and entities, requiring specific consent for certain transactions
Residential Property Sale and Purchase Agreements Act 2010: Provides specific requirements for residential property transactions and standard form agreements
Real Estate Agents Act 2008: Regulates real estate agents' conduct and their role in property transactions
Goods and Services Tax Act 1985: Covers GST implications in property transactions and requirements for tax statements
Resource Management Act 1991: Affects property transactions through zoning, land use restrictions, and environmental considerations
Building Act 2004: Relevant for ensuring compliance with building regulations and permits in property transactions
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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