Unconditional Contract Of Sale Template for New Zealand

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Key Requirements PROMPT example:

Unconditional Contract Of Sale

"I need an Unconditional Contract of Sale for a residential property in Auckland, New Zealand, with settlement scheduled for March 15, 2025, including a detailed chattels list and requiring the vendor to complete minor repairs before settlement."

Document background
The Unconditional Contract of Sale is a fundamental legal document used in New Zealand property transactions where both parties are ready to proceed with the sale without any conditions. This type of agreement is typically used when the purchaser has completed all necessary due diligence, secured financing, and is confident about proceeding with the purchase. It differs from conditional contracts as it creates an immediate binding obligation on both parties upon signing. The document is governed by New Zealand law, particularly the Contract and Commercial Law Act 2017 and the Property Law Act 2007, and includes essential elements such as property details, price, settlement terms, and warranties. It's commonly used in straightforward property transactions where there's no need for conditions such as finance approval, due diligence, or property inspection.
Suggested Sections

1. Parties: Identifies and defines the vendor and purchaser with full legal names and addresses

2. Background: Establishes the context of the sale, including brief property description and vendor's ownership

3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets interpretation rules

4. Agreement to Sell and Purchase: Core agreement section stating the vendor's agreement to sell and purchaser's agreement to buy

5. Purchase Price: Specifies the total purchase price and payment structure

6. Property Description: Detailed description of the property including legal description and title references

7. Title and Title Requirements: Details about the title, including any easements, covenants, or restrictions

8. Settlement and Possession: Specifies settlement date, time, and requirements for completion

9. Risk and Insurance: Addresses risk transfer and insurance requirements until settlement

10. Vendor's Warranties: Standard warranties provided by the vendor regarding the property

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

12. General Provisions: Standard contract clauses including notices, entire agreement, and governing law

Optional Sections

1. GST Provisions: Required when either party is GST registered or the transaction is subject to GST

2. Chattels: Required when the sale includes specific moveable items with the property

3. Tenancies: Required when the property is sold with existing tenants

4. Due Diligence: Optional section for buyer's investigations if agreed between parties

5. Building Warranty: Required for properties less than 6 years old or with recent major renovations

6. Resource Management Act Compliance: Required when there are specific planning or zoning considerations

7. Body Corporate: Required for unit title properties

8. Vendor's Works: Required when vendor agrees to complete specific works before settlement

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive property details 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. Schedule 4 - Tenancy Schedule: Details of existing tenancies including terms and current rent

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

6. Appendix B - LIM Report: Land Information Memorandum report if provided

7. Appendix C - Property Plans: Floor plans, site plans, or other relevant property drawings

8. Appendix D - Compliance Documents: Building consents, code compliance certificates, and other relevant permits

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

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Commercial Property

Residential Property

Retail

Industrial

Agriculture

Hospitality

Professional Services

Manufacturing

Warehousing

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Operations

Commercial

Risk Management

Investment

Business Development

Asset Management

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Lawyer

Property Manager

Commercial Property Manager

Legal Counsel

Contract Manager

Property Developer

Business Owner

Chief Executive Officer

Chief Financial Officer

Property Investment Manager

Asset Manager

Real Estate Investment Manager

Settlement Officer

Compliance Officer

Industries
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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