Document background
A Sub Sale Agreement is essential in New Zealand property transactions where an intermediate party wishes to on-sell a property before completing their own purchase. This arrangement is common in property development, investment, and speculation scenarios. The document must comply with New Zealand property law requirements and typically includes details of the original sale agreement, the terms of the sub-sale, conditions precedent, settlement arrangements, and warranties. It's particularly important in ensuring clear title transfer and managing the risks associated with sequential property transactions. The agreement needs to address GST implications, anti-money laundering compliance, and potential overseas investment considerations. Sub Sale Agreements are frequently used in both commercial and residential property contexts, requiring careful attention to the timing of settlements and coordination between all parties involved.
