Deed Of Sale With Right To Repurchase Template for New Zealand

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Key Requirements PROMPT example:

Deed Of Sale With Right To Repurchase

"I need a Deed of Sale with Right to Repurchase for a commercial property in Auckland, where I'm selling to a developer but want the right to repurchase by March 2025 if their development doesn't proceed, with the repurchase price to be the original sale price plus 5% per annum."

Document background
The Deed of Sale with Right to Repurchase is primarily used in New Zealand property transactions where the original owner wishes to sell their property while maintaining the option to buy it back in the future. This arrangement is particularly useful in situations involving temporary financial constraints, property development opportunities, or strategic property management. The document must comply with New Zealand's Property Law Act 2007 and related legislation, ensuring all aspects of the sale and repurchase rights are legally enforceable. A Deed of Sale with Right to Repurchase typically includes comprehensive details about the property, sale terms, repurchase conditions, timeframes, pricing mechanisms, and obligations of all parties involved. It's commonly used in both commercial and residential property transactions, requiring careful consideration of current market values, future price calculations, and potential property development impacts.
Suggested Sections

1. Parties: Identifies and defines all parties to the deed, including the Vendor (original owner), Purchaser, and any guarantors

2. Background: Outlines the context of the transaction, including property ownership status and intention to sell with repurchase rights

3. Definitions and Interpretation: Defines key terms used throughout the deed and sets out interpretation rules

4. Sale and Purchase: Details the primary sale transaction, including purchase price, deposit, and settlement arrangements

5. Property Transfer: Specifies the requirements and process for transferring the property title

6. Right to Repurchase: Details the terms of the repurchase right, including trigger conditions, timeframe, and repurchase price

7. Exercise of Repurchase Right: Outlines the process and requirements for exercising the repurchase right

8. Settlement Obligations: Lists obligations of both parties at settlement, including documentation and payments

9. Title and Property Matters: Addresses title requirements, encumbrances, and property condition

10. Warranties and Representations: Sets out warranties given by both parties regarding the property and their capacity

11. Default and Remedies: Specifies consequences of default and available remedies

12. General Provisions: Contains standard clauses including notices, costs, governing law, and dispute resolution

Optional Sections

1. GST Provisions: Required if either party is GST-registered or if the transaction is subject to GST

2. Tenant Provisions: Required if the property is subject to existing tenancies

3. Guarantees: Required if any party's obligations are being guaranteed by a third party

4. Mortgagee Consent: Required if the property is subject to an existing mortgage

5. Land Covenants: Required if the property is subject to specific land covenants or restrictions

6. Body Corporate: Required if the property is part of a unit title development

7. Development Conditions: Required if the property is subject to ongoing development or subdivision

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including title references, legal description, and included chattels

2. Schedule 2 - Purchase Price and Payment Terms: Breakdown of purchase price, deposit, and payment schedule

3. Schedule 3 - Repurchase Terms: Detailed terms of the repurchase right including price calculation method and timeframes

4. Schedule 4 - Warranties: Comprehensive list of warranties given by both parties

5. Schedule 5 - Encumbrances: List of registered and unregistered encumbrances affecting the property

6. Appendix A - Property Plans: Current title plan and any relevant property plans or drawings

7. Appendix B - Condition Report: Current condition report of the property if required

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

Property Development

Commercial Property

Residential Property

Property Investment

Agriculture

Retail

Industrial

Construction

Legal Services

Relevant Teams

Legal

Real Estate

Property Management

Commercial

Finance

Compliance

Risk Management

Operations

Investment

Development

Relevant Roles

Property Lawyer

Real Estate Agent

Property Developer

Commercial Property Manager

Legal Counsel

Conveyancing Lawyer

Property Investment Manager

Asset Manager

Finance Manager

Contract Manager

Property Portfolio Manager

Development Manager

Real Estate Investment Manager

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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