This On Demand was recorded on 8 May 2023.

ADLS/REINZ have released the new version of the Eleventh Edition of the Agreement for Sale and Purchase of Real Estate on 9 May 2023. This reflects legislative changes to the Unit Titles disclosure regime (which take effect on 9 May) and various other practical matters including in relation to real estate agents’ retention of deposits, new definitions and providing for dates.

Presented by Thomas Gibbons, part of the ADLS subcommittee tasked with crafting the changes, and with input from Janine Tan, Legal Advisor at REINZ on the real estate profession’s perspective, this On Demand will provide users with the reasons for and details of the changes, to assist them in practice.

Please note: this On Demand will not provide a full examination of the new Unit Titles disclosure regime.

Who should view?

All property lawyers and legal executives. Real estate agents would also find this session useful.

Learning Outcomes

• Gain an understanding of the key changes in the new version of the agreement, ADLS/REINZ Agreement for Sale and Purchase of Real Estate ‒ Eleventh Edition (3), including:
• Updated clause 8, relating to unit titles, to tie in with 2022 Unit Titles Act amendments.
• Update of clause 2.4, relating to retention of deposit.
• Addition of dates for all front-page conditions.
• Addition of definitions for all front-page conditions.
• Update of clause 9.6 regarding OIA consent.
• Refinement of clause 10.2.
• Updated Schedule 2: list of chattels
• Receive guidance on the implications of the changes for all those advising clients buying and selling property.

Presenter Details

Thomas Gibbons
Janine Tan