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House Contract Agreement

House Contract Agreement Template for New Zealand

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Key Requirements PROMPT example:

House Contract Agreement

"I need a House Contract Agreement for the sale of my three-bedroom property in Auckland to a first-time buyer, with settlement scheduled for March 2025 and including specific provisions for the existing tenant's rights."

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Document background
The House Contract Agreement is a fundamental legal document used in New Zealand residential property transactions. It serves as the primary agreement between a vendor (seller) and purchaser (buyer) for the sale and purchase of residential property. This document is essential when transferring ownership of houses, apartments, or other residential properties in New Zealand, and must comply with local property law requirements including the Property Law Act 2007, Land Transfer Act 2017, and other relevant legislation. The agreement typically includes detailed property descriptions, purchase price, settlement terms, warranties, and conditions precedent to settlement. It may also address specific requirements such as body corporate rules for apartments, existing tenancies, or special conditions relating to the property's characteristics or the transaction's nature. The document is designed to protect both parties' interests while ensuring a smooth and legally compliant property transfer process.
Suggested Sections

1. Parties: Identification and details of the vendor (seller) and purchaser (buyer)

2. Background: Context of the sale, including brief property description and intention to sell/purchase

3. Definitions: Key terms used throughout the agreement, including property-specific terminology

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

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

6. Settlement: Settlement date, time, and process requirements

7. Title and Transfer: Conditions regarding title transfer and registration

8. Property Inspection: Rights and process for property inspection before settlement

9. Warranties: Vendor warranties regarding the property condition and title

10. Default: Consequences and remedies in case of default by either party

11. General Terms: Standard contract terms including notices, amendments, and governing law

Optional Sections

1. Chattels: List and conditions of moveable items included in the sale, used when specific items are being sold with the property

2. Tenancies: Details of existing tenancies, required when the property is sold with tenants in place

3. Body Corporate: Body corporate details and obligations, required for apartments or units

4. Due Diligence: Conditions for buyer's due diligence period, used when buyer requires investigation time

5. Finance Condition: Conditions relating to buyer obtaining finance, used when purchase is subject to financing

6. Building Report: Conditions for obtaining and reviewing building inspection reports, used when structural assessment is required

7. Resource Consent: Details of required resource consents, used for properties with development potential or compliance issues

8. GST: GST provisions and requirements, used when either party is GST registered

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including certificate of title, legal description, and area

2. Schedule 2 - Chattels List: Itemized list of all chattels included in the sale

3. Schedule 3 - Special Conditions: Any special conditions agreed between the parties

4. Appendix A - LIM Report: Land Information Memorandum report from the local council

5. Appendix B - Title Documents: Copy of certificate of title and relevant instruments

6. Appendix C - Building Report: Professional building inspection report if obtained

7. Appendix D - Tenancy Agreements: Copies of current tenancy agreements if applicable

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 Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Property Management

Construction

Insurance

Property Investment

Relevant Teams

Legal

Real Estate

Property Management

Conveyancing

Settlements

Due Diligence

Property Development

Mortgage and Finance

Risk and Compliance

Documentation

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Manager

Bank Manager

Mortgage Broker

Legal Executive

Property Developer

Real Estate Partner

Conveyancing Partner

Property Investment Advisor

Settlement Officer

Due Diligence Officer

Property Valuer

Building Inspector

Industries
Property Law Act 2007: Primary legislation governing real property transactions in New Zealand, including requirements for property contracts and transfers
Contract and Commercial Law Act 2017: Provides the general framework for contract formation, enforcement, and remedies in New Zealand
Real Estate Agents Act 2008: Regulates real estate transactions and agent conduct if a real estate agent is involved in the house sale
Land Transfer Act 2017: Governs the registration and transfer of land titles in New Zealand
Residential Tenancies Act 1986: May be relevant if the property has existing tenants or if the contract involves rental provisions
Unit Titles Act 2010: Applies if the property is part of a unit title development (apartment or townhouse complex)
Fair Trading Act 1986: Ensures fair trading practices and prevents misleading conduct in property transactions
Overseas Investment Act 2005: Relevant if the buyer is a non-New Zealand resident, requiring additional compliance and approvals
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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