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Land Contract
"I need a Land Contract for purchasing a commercial property in Auckland, New Zealand, with settlement scheduled for March 2025, that includes provisions for existing tenant leases and requires overseas investment approval."
1. Parties: Details of the vendor(s) and purchaser(s), including full legal names, addresses, and any company registration numbers
2. Background: Context of the transaction, including brief property description and purpose of the agreement
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpreting the contract
4. Property Description: Detailed legal description of the land, including title references and physical address
5. Purchase Price: Agreed purchase price and payment structure, including deposit requirements
6. Settlement and Possession: Settlement date, time, and conditions for possession transfer
7. Title and Transfer: Provisions regarding title transfer, including requirements for clear title
8. Warranties and Undertakings: Vendor's warranties about the property and both parties' general undertakings
9. Conditions: Standard conditions that must be satisfied before settlement
10. Risk and Insurance: Allocation of risk and insurance requirements until settlement
11. Default: Consequences of default by either party and available remedies
12. General Provisions: Standard contractual provisions including notices, amendments, and governing law
1. Māori Land Provisions: Required when the land has Māori land status or interests
2. GST: Required when the transaction is subject to GST considerations
3. Tenant Provisions: Include when the property is sold with existing tenancies
4. Building Condition: Required when buildings on the land are a significant part of the transaction
5. Resource Consent: Include when the intended use requires specific resource consents
6. Development Provisions: Required when the land is part of a development or subdivision
7. Overseas Investment: Include when purchaser is an overseas person under the Overseas Investment Act
8. Environmental Matters: Required when there are known environmental issues or considerations
9. Easements and Covenants: Include when specific easements or covenants affect the property
1. Schedule 1 - Property Details: Detailed property information including legal description, area, and improvements
2. Schedule 2 - Purchase Price Breakdown: Detailed breakdown of purchase price, deposit, and payment terms
3. Schedule 3 - Chattels: List of chattels included or excluded from the sale
4. Schedule 4 - Conditions Precedent: Detailed list of conditions that must be satisfied
5. Schedule 5 - Warranties: Detailed vendor warranties about the property
6. Appendix A - Title Documents: Copy of title and relevant registered documents
7. Appendix B - LIM Report: Land Information Memorandum report if obtained
8. Appendix C - Plans and Drawings: Property plans, boundary details, and building plans if relevant
9. Appendix D - Tenancy Details: Details of any existing tenancies if applicable
10. Appendix E - Consents and Permits: Copies of relevant resource consents, building permits, and compliance documents
Authors
Business Day
Chattels
Completion Date
Conditions Precedent
Default Rate
Deposit
Encumbrance
GST
GST Act
Improvements
Land
Land Transfer Act
LINZ
Local Authority
LIM Report
Māori Land Court
Outgoings
Parties
Payment Date
Permitted Encumbrances
Property
Purchase Price
Purchaser
Rate of Interest
Resource Consent
Settlement
Settlement Date
Title
Transfer
Unit Title
Vacant Possession
Vendor
Vendor's Solicitor
Purchaser's Solicitor
Working Day
Warranties
Property Description
Purchase Price
Deposit
Title and Transfer
Settlement
Due Diligence
Conditions Precedent
Warranties
Risk and Insurance
Default
Property Access
Chattels
GST
Land Use
Resource Consent
Local Authority Requirements
Māori Land Provisions
Environmental Compliance
Easements and Covenants
Tenancy Matters
Improvements
Subdivision
Boundary Adjustments
Property Inspection
Dispute Resolution
Force Majeure
Assignment
Notices
Governing Law
Entire Agreement
Severability
Costs
Confidentiality
Termination
Real Estate
Property Development
Agriculture
Commercial Property
Residential Property
Construction
Banking and Finance
Legal Services
Government and Public Sector
Tourism and Hospitality
Retail
Industrial
Legal
Real Estate
Property Management
Commercial
Compliance
Operations
Acquisitions
Development
Finance
Risk Management
Property Lawyer
Real Estate Agent
Property Manager
Commercial Director
Legal Counsel
Conveyancer
Property Developer
Land Surveyor
Commercial Property Manager
Compliance Officer
Real Estate Transaction Manager
Property Acquisition Manager
Development Manager
Legal Director
Real Estate Partner
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