Document background
The As Is Where Is Basis Deed of Sale is a specialized legal document used in New Zealand property transactions where the traditional warranties and representations are limited or excluded. This document type gained particular prominence following events like the Christchurch earthquakes but is also commonly used for distressed properties, mortgagee sales, or properties requiring significant renovation. The deed explicitly outlines the current condition of the property, known defects, and the purchaser's acknowledgment of these conditions. It includes specific provisions protecting the vendor from future claims related to the property's condition while ensuring compliance with New Zealand's Property Law Act 2007 and related legislation. The document is structured to provide clear risk allocation between parties and typically includes comprehensive schedules documenting the property's current state.
