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Land Purchase Agreement
"I need a Land Purchase Agreement for buying a commercial property in Auckland, New Zealand, with settlement scheduled for March 2025, including specific provisions for existing tenant transfers and overseas investment approval requirements."
1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpretation
4. Agreement to Sell and Purchase: Core agreement clause stating the vendor's agreement to sell and purchaser's agreement to buy the property
5. Property Description: Detailed description of the land, including title references and physical address
6. Purchase Price: Specified purchase price and payment structure, including deposit details
7. Settlement and Possession: Settlement date, time, and possession arrangements
8. Title and Transfer: Requirements for title transfer and registration
9. Warranties and Undertakings: Vendor's warranties about the property and both parties' undertakings
10. Due Diligence: Purchaser's rights and obligations regarding property investigation
11. Conditions Precedent: Conditions that must be satisfied before the agreement becomes unconditional
12. Risk and Insurance: Allocation of risk and insurance requirements until settlement
13. Default: Consequences of default by either party
14. Notices: How formal notices between parties should be given
15. General Provisions: Standard contractual provisions including governing law, entire agreement, and amendments
1. Tenant Provisions: Required when the property is sold with existing tenants, covering lease assignments and tenant rights
2. Development Conditions: Included when the purchase is conditional on future development approvals or requirements
3. GST Provisions: Detailed GST treatment when either party is GST-registered or the transaction is subject to GST
4. Overseas Investment Conditions: Required when the purchaser is an overseas person requiring OIO consent
5. Māori Land Provisions: Special provisions required when dealing with Māori land or land subject to Treaty claims
6. Multiple Purchaser Provisions: Required when there are multiple purchasers, specifying ownership structure
7. Vendor Finance: Included when the vendor is providing financing for the purchase
8. Building Condition: Specific provisions about building condition when structures are significant to the purchase
1. Schedule 1 - Property Details: Detailed property information including title references, legal description, and area
2. Schedule 2 - Purchase Price Calculation: Breakdown of purchase price, deposit, and payment schedule
3. Schedule 3 - Warranties: Complete list of vendor warranties about the property
4. Schedule 4 - Conditions: Detailed conditions precedent and their timeframes
5. Schedule 5 - Chattels: List of chattels included or excluded from the sale
6. Appendix A - Title Documents: Copy of title and relevant registered documents
7. Appendix B - LIM Report: Land Information Memorandum report if already obtained
8. Appendix C - Property Plans: Site plans, survey plans, and building plans if applicable
9. Appendix D - Tenant Information: Lease agreements and tenant details if property is tenanted
Authors
Business Day
Chattels
Completion
Conditions Date
Deposit
Due Diligence Period
Encumbrance
GST
Improvements
Land
Land Transfer Office
LIM Report
Local Authority
Overseas Person
Payment Date
Permitted Encumbrances
Property
Purchase Price
Purchaser
Purchaser's Solicitor
Record of Title
Settlement
Settlement Date
Settlement Statement
Title
Transfer
Unit Title
Vendor
Vendor's Solicitor
Warranties
Working Day
Certificate of Title
Possession Date
Default Interest Rate
Leases
Tenancies
Resource Consent
Building Consent
District Plan
Rates
Agreement to Sell and Purchase
Purchase Price
Deposit
Title and Transfer
Risk and Insurance
Vendor Warranties
Property Inspection
Due Diligence
Settlement
Possession
Default
GST
Land Act Declaration
Overseas Investment
Conditions Precedent
Property Compliance
Local Authority Requirements
Chattels
Tenancies
Rates and Outgoings
Notice and Communications
Further Assurances
Governing Law
Dispute Resolution
Assignment
Time of Essence
Severability
Entire Agreement
Amendments
Property Access
Insurance
Caveat
Land Covenants
Title Registration
Costs
Force Majeure
Real Estate
Property Development
Construction
Banking and Finance
Agriculture
Commercial Property
Residential Property
Legal Services
Investment
Urban Planning
Legal
Real Estate
Property Management
Development
Commercial
Finance
Compliance
Investment
Operations
Risk Management
Property Lawyer
Real Estate Agent
Property Developer
Investment Manager
Conveyancing Specialist
Land Surveyor
Property Valuer
Commercial Director
Legal Counsel
Property Manager
Farm Manager
Development Manager
Compliance Officer
Finance Manager
Real Estate Investment Analyst
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