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New Zealand law explained for everyone

Contract and Commercial Law Act 2017

Sale of goods - Effects of contract - Transfer of property between seller and buyer

145: Ascertaining parties’ intention

You could also call this:

“Finding out when you own something you bought”

When you buy something, you and the seller need to agree on when the item becomes yours. There are rules to help figure this out. These rules are in section 146 of the law. You use these rules to understand when you officially own the item you bought. But if you and the seller have a different plan, that’s okay too. Your agreement is more important than these rules.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6844340.

Topics:
Money and consumer rights > Consumer protection Business > Fair trading
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144: Property passes when intended to pass, or

"Ownership changes when buyer and seller agree it should"

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146: Rules for ascertaining parties’ intention, or

"How to know when you own something you've agreed to buy"

Part 3 Sale of goods
Effects of contract: Transfer of property between seller and buyer

145Ascertaining parties’ intention

  1. Unless a different intention appears, the rules in section 146 are the rules for ascertaining the intention of the parties as to the time at which the property in the goods is to pass to the buyer.

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