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The Lifetime Lease Agreement is a specialized legal instrument used in New Zealand when a property owner grants a tenant the right to occupy a property for the duration of their lifetime. This document is particularly relevant in situations involving retirement planning, estate management, or long-term care arrangements. It combines elements of traditional lease agreements with specific provisions for permanent occupancy rights, typically involving a substantial upfront payment or alternative financial arrangement. The agreement must comply with New Zealand's Property Law Act 2007, Residential Tenancies Act 1986, and other relevant legislation. It includes detailed sections covering property maintenance, insurance requirements, termination conditions, and succession rights. This type of agreement is often used in retirement planning scenarios or when families wish to establish long-term, secure housing arrangements for elderly relatives while maintaining property ownership.

1. Parties: Identification of the lessor (property owner) and lessee (lifetime tenant), including full legal names and addresses

2. Background: Context of the agreement, including property ownership details and intention to create a lifetime lease

3. Definitions: Key terms used throughout the agreement, including 'Lifetime Lease', 'Property', 'Commencement Date', etc.

4. Grant of Lease: Formal grant of the lifetime lease, specifying the property and the lease's duration (until death or other specified termination event)

5. Rent and Payments: Details of any ongoing payments, including whether a lump sum is paid upfront and any regular maintenance fees

6. Rights and Obligations: Core rights and responsibilities of both parties, including occupancy rights and basic maintenance obligations

7. Property Maintenance and Repairs: Detailed responsibilities for maintaining the property, including structural repairs, regular maintenance, and improvements

8. Insurance: Requirements for building and contents insurance, including responsibilities for payment and claims

9. Rates and Outgoings: Responsibility for payment of council rates, utilities, and other property-related expenses

10. Permitted Use: Specifications about how the property may be used and any restrictions on use

11. Termination Events: Circumstances under which the lifetime lease may end, including death, permanent move to care facility, or breach of agreement

12. Dispute Resolution: Process for resolving any disputes between parties

13. General Provisions: Standard contractual provisions including governing law, notices, and entire agreement clause