Land Option Contract Template for New Zealand

1. GST Provisions: Required if either party is GST-registered or if the transaction may have GST implications

2. Development Conditions: Include if the option is contingent on obtaining development approvals or consents

3. Multiple Option Holders: Required if there are multiple option holders, defining their relationships and obligations

4. Mortgagee Consent: Include if the property is mortgaged and requires lender consent

5. Assignment Rights: Include if parties want to specifically address the right to assign the option

6. Resource Management Obligations: Include if there are specific resource management or environmental considerations

7. Subdivision Provisions: Required if the option relates to land that needs to be subdivided

8. Overseas Investment Provisions: Include if the option holder is or may be an overseas person under the Overseas Investment Act

1. Property Description Schedule: Detailed legal description of the property including title references and area

2. Option Exercise Notice: Pro forma notice for exercising the option

3. Purchase Price Calculation: If applicable, detailed methodology for calculating the purchase price

4. Due Diligence Checklist: List of investigations and documents required for due diligence

5. Title Documents: Copy of title and relevant registered documents

6. Land Transfer Tax Statement: Required form for land transfer tax purposes

7. Development Plans: If applicable, plans showing proposed development or subdivision

8. Required Consents: List of required consents and their status