Document background
The Long Term Land Lease Agreement is a crucial document in New Zealand property law, used when parties wish to establish a long-term leasehold interest in land without transferring ownership. This type of agreement is particularly relevant for commercial developments, agricultural operations, and major infrastructure projects where substantial investment in the land is contemplated. The document must comply with New Zealand's Property Law Act 2007, Land Transfer Act 2017, and other relevant legislation, including consideration of Te Ture Whenua Maori Act 1993 when applicable. It provides comprehensive coverage of rights, obligations, and responsibilities of both parties over an extended period, typically ranging from 21 to 99 years, and includes provisions for rent reviews, maintenance, improvements, and potential assignment or subletting rights.
