The Joint Development Agreement (Real Estate) is a crucial document used when multiple parties wish to collaborate on a real estate development project in New Zealand. It is particularly relevant when different stakeholders bring varying resources to the project, such as land, capital, development expertise, or construction capabilities. This agreement type is designed to comply with New Zealand's legal framework, including the Property Law Act 2007, Resource Management Act 1991, and Construction Contracts Act 2002. It provides comprehensive coverage of essential elements such as ownership structures, contribution obligations, profit-sharing mechanisms, development timelines, and risk allocation. The document is especially important for complex development projects where clear governance structures and detailed operational procedures are required to ensure successful project delivery and stakeholder alignment.
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1. Parties: Identification of all parties to the agreement including their legal status and contact details
2. Background: Context of the development project, parties' intentions, and any relevant historical information
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation
4. Project Scope and Objectives: Detailed description of the development project, its goals, and deliverables
5. Contributions and Ownership: Each party's contributions (land, capital, expertise) and resulting ownership rights
6. Development Management: Project management structure, decision-making processes, and governance arrangements
7. Financial Provisions: Budget, funding arrangements, profit sharing, and financial management procedures
8. Development Program: Project timeline, milestones, and completion requirements
9. Obligations and Responsibilities: Specific duties and responsibilities of each party
10. Consents and Approvals: Process for obtaining necessary regulatory approvals and permits
11. Risk Allocation: Distribution of risks between parties and risk management procedures
12. Default and Termination: Events of default, consequences, and termination procedures
13. Dispute Resolution: Procedures for resolving disputes between parties
14. Confidentiality: Protection of confidential information and intellectual property
15. General Provisions: Standard legal provisions including notices, amendments, and governing law
1. Pre-Development Conditions: Conditions that must be satisfied before development commences, used when specific prerequisites exist
2. Sales and Marketing: Procedures for marketing and selling developed properties, included when parties will jointly handle sales
3. Environmental Obligations: Specific environmental requirements and responsibilities, included when significant environmental factors exist
4. Community Engagement: Processes for managing community relations, included for projects with significant community impact
5. Intellectual Property Rights: Detailed IP provisions, included when development involves unique designs or technologies
6. External Contractor Management: Procedures for engaging and managing contractors, included when significant third-party work is anticipated
7. Insurance Requirements: Detailed insurance obligations, included when specific insurance arrangements are needed
8. Force Majeure: Provisions for unforeseen events, included when specific risk allocation for such events is needed
9. Buy-out Provisions: Mechanisms for one party to buy out others, included when early exit options are desired
1. Schedule 1 - Property Details: Legal description of the development property, including titles and encumbrances
2. Schedule 2 - Development Plans: Architectural plans, designs, and specifications
3. Schedule 3 - Project Budget: Detailed budget breakdown and cost estimates
4. Schedule 4 - Development Program: Detailed timeline and milestone dates
5. Schedule 5 - Contributions Schedule: Detailed breakdown of each party's contributions
6. Schedule 6 - Distribution Waterfall: Detailed profit distribution mechanism
7. Schedule 7 - Management Structure: Organizational chart and key personnel
8. Schedule 8 - Required Consents: List of required regulatory approvals and permits
9. Appendix A - Pro Forma Sales Documents: Template sales agreements and related documents
10. Appendix B - Consultants and Contractors: List of key consultants and contractors
11. Appendix C - Insurance Requirements: Detailed insurance specifications
12. Appendix D - Reporting Templates: Standard forms for project reporting
Relevant legal definitions
Adjoining Property
Agreed Development Budget
Applicable Laws
Approvals
Approved Plans
Authority
Business Day
Capital Contribution
Completion Date
Confidential Information
Construction Contract
Construction Documents
Consultant
Contract Sum
Contractor
Default Event
Defects Liability Period
Development
Development Costs
Development Manager
Development Period
Development Program
Development Property
Development Works
Encumbrance
Environmental Law
Equipment
Facility Agreement
Final Completion
Finance Documents
Financial Year
Force Majeure Event
Gross Floor Area
GST
Improvements
Initial Contribution
Intellectual Property Rights
Joint Development Committee
Land
Management Committee
Material Adverse Effect
Net Profit
Occupation Certificate
Participating Interest
Parties
Permission
Plans and Specifications
Practical Completion
Project
Project Account
Project Documents
Project Manager
Property
Resource Consent
Sales Proceeds
Security Interest
Services
Site
Stakeholder
Sunset Date
Title Documents
Unit
Valuation
Works
Agreed Development Budget
Applicable Laws
Approvals
Approved Plans
Authority
Business Day
Capital Contribution
Completion Date
Confidential Information
Construction Contract
Construction Documents
Consultant
Contract Sum
Contractor
Default Event
Defects Liability Period
Development
Development Costs
Development Manager
Development Period
Development Program
Development Property
Development Works
Encumbrance
Environmental Law
Equipment
Facility Agreement
Final Completion
Finance Documents
Financial Year
Force Majeure Event
Gross Floor Area
GST
Improvements
Initial Contribution
Intellectual Property Rights
Joint Development Committee
Land
Management Committee
Material Adverse Effect
Net Profit
Occupation Certificate
Participating Interest
Parties
Permission
Plans and Specifications
Practical Completion
Project
Project Account
Project Documents
Project Manager
Property
Resource Consent
Sales Proceeds
Security Interest
Services
Site
Stakeholder
Sunset Date
Title Documents
Unit
Valuation
Works
Clauses
Interpretation
Definitions
Project Scope
Conditions Precedent
Ownership Structure
Capital Contributions
Land Contribution
Development Management
Decision Making
Project Control
Construction Obligations
Development Program
Budget and Costs
Funding
Profit Distribution
Project Accounts
GST
Resource Consents
Building Consents
Environmental Compliance
Health and Safety
Insurance
Security
Intellectual Property
Confidentiality
Risk Allocation
Liability
Indemnification
Default
Termination
Force Majeure
Dispute Resolution
Assignment
Notices
Amendments
Governing Law
Severability
Entire Agreement
Further Assurance
Costs
Relationship of Parties
Community Engagement
Marketing and Sales
Warranties
Completion
Defects Liability
Property Management
External Contractors
Reporting Requirements
Audit Rights
Definitions
Project Scope
Conditions Precedent
Ownership Structure
Capital Contributions
Land Contribution
Development Management
Decision Making
Project Control
Construction Obligations
Development Program
Budget and Costs
Funding
Profit Distribution
Project Accounts
GST
Resource Consents
Building Consents
Environmental Compliance
Health and Safety
Insurance
Security
Intellectual Property
Confidentiality
Risk Allocation
Liability
Indemnification
Default
Termination
Force Majeure
Dispute Resolution
Assignment
Notices
Amendments
Governing Law
Severability
Entire Agreement
Further Assurance
Costs
Relationship of Parties
Community Engagement
Marketing and Sales
Warranties
Completion
Defects Liability
Property Management
External Contractors
Reporting Requirements
Audit Rights
Relevant Industries
Real Estate
Construction
Property Development
Infrastructure
Urban Planning
Commercial Property
Residential Property
Mixed-use Development
Industrial Development
Retail Development
Hospitality
Sustainable Development
Relevant Teams
Legal
Real Estate
Development
Construction
Finance
Commercial
Risk Management
Operations
Compliance
Planning
Property Management
Investment
Project Management
Joint Venture Management
Relevant Roles
Development Director
Property Developer
Real Estate Investment Manager
Construction Manager
Project Manager
Legal Counsel
Commercial Director
Finance Director
Investment Analyst
Development Manager
Asset Manager
Risk Manager
Planning Manager
Operations Director
Compliance Officer
Contract Manager
Development Coordinator
Joint Venture Manager
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