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News Flash - New Agreement for Sale & Purchase of Real Estate (ASP)

A new Auckland District Law Society Agreement for Sale & Purchase of Real Estate – Ninth Edition 2012 (3) has been released recently.

The new version contains a number of changes and you should take care when deciding which version to use.

Some key changes include:

  • new clauses inserted in light of the Land Transfer Amendment Act 2015 and the Tax Administration Amendment Act 2015;
  • amendment to the definition of “Working day” which includes a change to the timeframe (in January) for obtaining a LIM report when using clause 9.2(2);
  • updates relating to Unit Title properties;
  • improvements to the GST schedule; and
  • the inclusion of page numbers to make the form easier to use.

Our first Agent Care edition in the New Year will include an article summarising the changes and implications for you.