New Zealand Credit Contracts and Consumer Finance Act 2003 71-83: Buy-back transactions of land: initial, variation and request disclosure, independent legal advice, promoter duties and reasonable fees

What does 71-83 require?

The transferee in a land buy-back transaction must make initial disclosure of the Schedule 3 information to the occupier before the transaction, must ensure the occupier receives independent legal advice and a certificate of it, must not deal with the land without the court's leave if disclosure was not made, must disclose variations and respond to request disclosure, and neither the transferee nor a buy-back promoter may charge unreasonable buy-back fees or default fees; the occupier's interest is caveatable and promoter arrangements must meet section 74.