Credit Contracts and Consumer Finance Act 2003

Consumer leases, credit-related insurance, and buy-back transactions of land - Buy-back transactions of land

72: Initial disclosure of buy-back transaction

You could also call this:

"What you need to know before agreeing to buy back something"

Illustration for Credit Contracts and Consumer Finance Act 2003

When you enter into a buy-back transaction, the person you are dealing with must tell you certain information. This information is listed in Schedule 3, which you can find at Schedule 3. They must give you this information before you agree to anything. The person you are dealing with must also give you a copy of all the terms of the buy-back transaction. They must do this before you agree to anything, but they do not have to tell you about terms that are already implied by law. They must give you this copy in the same way that they would disclose information under section 35. You should get all this information before you enter into any contract or arrangement. This is so you know what you are agreeing to. The person you are dealing with is responsible for making sure you get this information.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM213143.

This page was last updated on 1 January 2026 — View changes

Topics:

Money and consumer rights > Consumer protection

71: Application of disclosure provisions, or

"What information lenders must share with you"

73: Independent legal advice must be given to occupier, or

"Get independent legal advice before signing a buy-back contract"

Part 3Consumer leases, credit-related insurance, and buy-back transactions of land
Buy-back transactions of land

72Initial disclosure of buy-back transaction

Every transferee under a buy-back transaction must ensure that disclosure of as much of the information set out in Schedule 3 as is applicable to the transaction is made to every occupier under the transaction before the occupier enters into any contract or arrangement that forms part of the buy-back transaction.
Every transferee under a buy-back transaction must ensure that a copy of all of the terms of the buy-back transaction not disclosed under subsection (1) (other than terms implied by law) is given or sent to every occupier under the transaction before the occupier enters into any contract or arrangement that forms part of the buy-back transaction.
For the purposes of subsection (2), the copy of the transaction terms must be given or sent in the same manner that disclosure is made under section 35.