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Unit Purchase Agreement
"I need a Unit Purchase Agreement for a luxury apartment purchase in Auckland, where the buyer is an overseas investor from Singapore, with settlement scheduled for March 2025 and including special conditions for body corporate approval."
1. Parties: Identification and details of the vendor and purchaser
2. Background: Context of the transaction and brief description of the unit property
3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement
4. Agreement to Sell and Purchase: Core agreement terms including purchase price and payment terms
5. Unit Title Matters: Specific provisions relating to unit title ownership, body corporate rules, and obligations
6. Pre-settlement Obligations: Obligations of both parties before settlement, including disclosure requirements
7. Settlement and Transfer: Settlement process, timing, and requirements for transfer of title
8. Risk and Insurance: Allocation of risk and insurance requirements until settlement
9. Default: Consequences and remedies for default by either party
10. General Provisions: Standard contractual provisions including notices, amendments, and governing law
1. Overseas Investment Conditions: Required when purchaser is an overseas person under the Overseas Investment Act
2. Existing Tenancies: Required when the unit is sold with existing tenants in place
3. GST Provisions: Required when either party is GST registered or the transaction is subject to GST
4. Development or Renovation Conditions: Required when the unit is under construction or significant renovations are planned
5. Finance Condition: Optional condition when purchase is subject to purchaser obtaining finance
6. Due Diligence Condition: Optional condition allowing purchaser to conduct investigations before proceeding
7. Solicitor's Approval: Optional condition allowing for legal review of the agreement
1. Property Details Schedule: Detailed description of the unit, including certificate of title references and unit plan details
2. Payment Schedule: Breakdown of purchase price, deposit, and settlement payment requirements
3. Body Corporate Information: Details of body corporate rules, fees, and maintenance plans
4. Pre-settlement Disclosure Statement: Mandatory disclosure of unit title information as required by the Unit Titles Act
5. Additional Records Schedule: List of warranties, certificates, and compliance documents to be provided
6. Chattels Schedule: Detailed list of chattels included or excluded from the sale
7. Unit Plan: Copy of the unit plan showing the unit's location and boundaries
8. Land Information Memorandum: Council records and information about the property and building
Authors
Approved Valuer
Body Corporate
Body Corporate Rules
Building
Business Day
Chattels
Common Property
Completion Date
Conditions Date
Default Interest Rate
Deposit
Due Diligence Period
Effective Date
Encumbrance
GST
Land
Land Information Memorandum
Levies
Long Term Maintenance Fund
Long Term Maintenance Plan
Notice
Overseas Person
Parties
Payment Date
Pre-settlement Disclosure Statement
Principal Unit
Purchase Price
Purchaser
Purchaser's Solicitor
Registration
Settlement
Settlement Date
Subsidiary Unit
Title
Unit
Unit Plan
Unit Title
Utilities
Vendor
Vendor's Solicitor
Working Day
Title and Registration
Body Corporate
Pre-settlement Disclosure
Settlement
Payment Terms
Risk and Insurance
Property Inspection
Due Diligence
Warranties and Representations
Default
Unit Title Matters
Common Property
Condition of Property
Transfer of Possession
GST
Overseas Investment
Deposit
Settlement Obligations
Property Access
Chattels
Unit Maintenance
Body Corporate Levies
Existing Tenancies
Assignment
Severability
Notices
Dispute Resolution
Governing Law
Entire Agreement
Real Estate
Property Development
Construction
Legal Services
Financial Services
Property Management
Insurance
Property Investment
Urban Development
Residential Housing
Legal
Real Estate
Property Development
Compliance
Risk Management
Property Management
Conveyancing
Sales
Due Diligence
Settlements
Property Lawyer
Real Estate Agent
Property Developer
Body Corporate Manager
Property Manager
Conveyancing Specialist
Legal Counsel
Compliance Officer
Property Investment Manager
Real Estate Transaction Coordinator
Settlement Officer
Due Diligence Manager
Property Valuer
Real Estate Contract Administrator
Legal Risk Manager
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