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StatuteProperty Law Act 2007

Section 28 — Property Law Act 2007: Restriction on vendor’s right to cancel agreement, etc, if purchaser in possession

Text of the provision Official document

28 Restriction on vendor’s right to cancel agreement, etc, if purchaser in possession (1) This section applies— (a) to any right— (i) to cancel an agreement for the sale and purchase of land; and (ii) that is exercisable by the vendor because of a breach of the agreement by the purchaser; and (b) only after the purchaser has, under the agreement, entered into possession of the land. (2) The vendor may exercise the right to cancel the agreement— (a) only if subsection (3) has first been complied with; and (b) only in 1 of the 2 ways specified in subsection (4). (3) This subsection has been complied with if— (a) the vendor serves on the purchaser a notice that complies with section 29 ; and (b) at the expiry of the period specified in that notice, the breach complained of has not been remedied. (4) The 2 ways (referred to in subsection (2)(b) and in section 29(2)(b) ) of exercising the right to cancel the agreement are— (a) by obtaining from a court an order for possession of the land (in which case the agreement is cancelled from the making of, or from a later time specified for the purpose in, the order); or (b) by re-entering the land peaceably (and without committing forcible entry under section 91 of the Crimes Act 1961). Compare: 1952 No 51 s 50

Official source: legislation.govt.nz

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