Changes to the Agreement for Sale and Purchase of Real Estate

The Law Association of New Zealand (TLANZ) has announced the release of updated TLANZ/REINZ property transaction forms, which will be made available for use from 21 April 2026. These forms are widely used across residential and commercial property transactions in New Zealand.

The new releases include:

• Agreement for Sale & Purchase of Real Estate – Eleventh Edition 2022 (4)
• Particulars and Conditions of Sale of Real Estate by Auction – Sixth Edition 2022 (3)
• Particulars and Conditions of Sale of Real Estate by Tender – Sixth Edition 2022 (3)

The updates are the result of a detailed review by the joint TLANZ/REINZ subcommittee, made up of experienced property lawyers and real estate professionals. While the structure of the forms remains familiar, a number of changes will have practical implications for vendors, purchasers, agents, and advisers.

The key differences from the current versions are:

1. Collection of Sales Information (IPP 3A compliance)
   The forms are now aligned with new privacy law requirements relating to the indirect collection of personal information. This change responds to Information Privacy Principle 3A, which comes into force on 1 May 2026.
2. Updated and new definitions
   Several definitions have been modernised, and new definitions introduced, including appointee, automatic garage door facility, and key, improving clarity and reducing scope for dispute.
3. Longer deemed service period for posted documents
   Where documents are sent by ordinary mail, the deemed service period has been extended from three to five working days.
4. New ‘use of form’ warranty
   The agreement now includes a warranty confirming that the standard form has not been altered. While strike-through deletions and additional wording are still permitted, the original wording must remain visible and any changes clearly identifiable.
5. Title, boundaries, and requisitions
   New wording clarifies the purchaser’s cancellation rights while expressly preserving their ability to waive title objections at any time prior to cancellation.
6. New vendor warranty for restricted building work
   Where a vendor has carried out, arranged, or permitted restricted building work on or after 13 March 2012, they now warrant that the work was carried out or supervised by a suitably qualified person under the Building Act.
7. Unit titles protections
   For unit title properties, vendors are now prevented from voting to alter unit title warranties before settlement without the purchaser’s consent.
8. Finance condition revised
   If a purchaser cancels the agreement because finance cannot be obtained, they must now provide a reasonable explanation, rather than a “satisfactory” one, together with evidence of the steps taken to secure funding.
9. Overseas Investment Act (OIA) consent
   The OIA consent clause has been clarified. Vendors are now required to take reasonable steps to assist purchasers in obtaining the necessary consent.
10. Schedule 1 – GST information
    GST-related information, particularly clause 1(b), has been revised to improve clarity and reduce uncertainty around GST treatment.
11. Schedule 2 – Chattels
    The list of chattels has been updated to better reflect current market and industry practice.
12. New pet bond disclosure
    For properties sold subject to an existing tenancy, any pet bond must now be disclosed separately from the general bond.
13. Branding and naming update
    The updated agreement reflects current TLANZ branding and is now formally known as the TLANZ/REINZ Agreement for Sale & Purchase of Real Estate (ASPRE).

What this means for buyers and sellers

Most of the changes are evolutionary rather than revolutionary, but they reinforce the importance of careful drafting, accurate disclosure, and early legal advice when entering into a property transaction. In particular, privacy compliance, building work warranties, finance conditions, and unit title provisions warrant closer attention.

If you are buying or selling property using the updated forms, we recommend seeking advice to ensure you understand how these changes may affect your position. If you would like to discuss how the new TLANZ/REINZ forms apply to your circumstances, please get in touch with our property team.

This article is current as at the date of publication and is only intended to provide general comments about the law. Harkness Henry accepts no responsibility for reliance by any person or organisation on the content of the article. Please contact the author of the article if you require specific advice about how the law applies to you.