Document background
The Agreement of Purchase and Sale Condominium is a specialized legal document used in New Zealand for transactions involving unit title properties (condominiums). This agreement is essential when transferring ownership of a unit title property and must comply with the Unit Titles Act 2010, Property Law Act 2007, and other relevant New Zealand legislation. It is designed to protect both vendors and purchasers by clearly documenting the terms of sale, including property details, price, settlement conditions, and body corporate matters. The agreement includes mandatory pre-settlement disclosures, body corporate information, and unit-specific details that distinguish it from standard property sales agreements. It's particularly important in urban areas and apartment developments where unit title properties are common, and requires careful consideration of shared ownership and management structures unique to condominium properties.
