If you are offered a home to purchase at Hawaiki, Ngāti Whātua Ōrākei entities will ask you to sign five different documents. Below is all the relevant documents including summaries. Please note, you will need to seek independent legal advice to work through these documents.
Summary of Legal Documents
This document is a summary of all the legal documentation that you will be required to sign with Ngāti Whātua Ōrākei entities. Each of the documents is separately listed below.
Agreement to Build
The Agreement to Build is the agreement you sign with Whai Rawa’s development company (Whai Rawa Kāinga Development Limited) to build your home for the contract price.
Agreement to Lease
The Agreement to Lease is the agreement you sign with the Lessor (Ngāti Whātua Ōrākei Housing Trustee Limited) at the same time as the Agreement to Build, to grant you a lease of the land on which your home is being built. The Lease is a registered lease and is the document that will govern your on-going relationship with the land owner and, in some respects, your neighbours.
Put Option Agreement
The Put Option Agreement is the document that gives you the right to require the Lessor (under the Agreement to Lease and Lease) to buy the home back from you at the price you paid. This right expires on 16 December 2031.
Shared Ownership Agreement
If you are accepted as part of the shared ownership scheme, the Shared Ownership Agreement is the agreement you sign with Ngāti Whātua Ōrākei Housing Trustee Limited (for the Sister Trust to the Ngāti Whātua Ōrākei Housing Trust that administers the shared ownership scheme). The goal is for you to eventually purchase the Sister Trust’s full share (within 30 years or the term of the mortgage, if shorter) while occupying the home as a co-owner until purchasing the full share is achieved. The Shared Ownership Agreement sets out terms and conditions for co-ownership.
Privacy Consent Letter
The Privacy Consent Letter is an agreement you sign with Ngāti Whātua Ōrākei Whai Rawa Limited under which you consent to the disclosure of personal information by the participating banks to Ngāti Whātua Ōrākei Group and an independent financial advisor retained by Ngāti Whātua Ōrākei Whai Rawa Limited in connection with the Hawaiki Development.
In addition to the above documentation, the bank that provides your home loan will require you to sign additional documents for the home loan and mortgage.