Deed Of Reconveyance Template for New Zealand

The Deed of Reconveyance is a crucial document in New Zealand property transactions, typically used when a mortgage or other security interest has been fully satisfied and the property needs to be legally returned to its original owner. This document is essential in the formal discharge process of security interests and must comply with New Zealand's Property Law Act 2007 and Land Transfer Act 2017. The deed includes specific details about the original security arrangement, confirmation of the discharge of obligations, and formal execution requirements. It's particularly important in banking and finance contexts where proper documentation of security release is necessary for legal certainty and future transactions. The document requires careful preparation and usually involves legal professionals to ensure compliance with statutory requirements and proper registration with Land Information New Zealand.

1. Parties: Identifies the original mortgagee/chargeholder (reconveying party) and the mortgagor/chargor (party receiving the reconveyance)

2. Background: Recites the details of the original security arrangement, including date and particulars of the original deed/mortgage, and confirms that all secured obligations have been satisfied

3. Definitions: Defines key terms used in the deed, including Property, Original Deed, Security Interest, and other relevant terms

4. Acknowledgment of Discharge: Confirms that all secured obligations have been fully discharged and satisfied

5. Reconveyance: The operative clause that legally transfers the property back to the original owner

6. Release of Security Interest: Formal release of any security interests, charges, or encumbrances held by the reconveying party

7. Further Assurance: Commitment to execute any additional documents necessary to give effect to the reconveyance

8. Governing Law: Specifies that New Zealand law governs the deed

9. Execution: Formal execution block meeting New Zealand requirements for deeds