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The Lease To Own Contract is a specialized agreement used in New Zealand real estate transactions where traditional property purchase methods may not be immediately suitable for the buyer. This document is particularly relevant when prospective buyers need time to build up a deposit, improve their credit position, or want to occupy the property while working toward ownership. It provides a structured pathway to property ownership while offering immediate occupancy rights. The agreement must comply with New Zealand's property, contract, and consumer protection laws, including the Property Law Act 2007 and Credit Contracts and Consumer Finance Act 2003. The document includes comprehensive terms covering the lease period, purchase option details, payment structures, property maintenance obligations, and the specific conditions and procedures for exercising the purchase option.

1. Parties: Identification of the Owner/Seller and the Tenant/Buyer, including full legal names, addresses, and contact details

2. Background: Context of the agreement, including the property's current ownership and the parties' intention to enter into a lease-to-own arrangement

3. Definitions: Key terms used throughout the agreement, including 'Option Fee', 'Purchase Price', 'Lease Period', and 'Settlement Date'

4. Property Details: Full legal description of the property, including address, title details, and any inclusions or exclusions

5. Lease Terms: Terms of the lease including duration, rent amount, payment frequency, and bond requirements

6. Option to Purchase: Details of the purchase option, including the agreed purchase price, option fee, and how payments during the lease period apply to the purchase

7. Exercise of Option: Process and requirements for exercising the purchase option, including notice periods and documentation

8. Payment Terms: Comprehensive payment structure including rent, option fees, credits toward purchase, and purchase price

9. Maintenance and Repairs: Responsibilities for property maintenance, repairs, and improvements during the lease period

10. Insurance and Rates: Requirements for insurance coverage and responsibility for property rates and other outgoings

11. Default and Termination: Consequences of default, termination provisions, and remedies for both parties

12. Settlement Process: Procedures for completing the property purchase when the option is exercised

13. General Provisions: Standard contract clauses including governing law, dispute resolution, and notices