What happens on settlement day?

Short answer: Money transfers. Keys handed over. Ownership changes. Register with LINZ. Final inspection recommended.

What this actually means in plain English

Your lawyer transfers the purchase money to the seller lawyer. The seller gives the keys. Ownership officially transfers. You get the keys, usually around midday. Your lawyer registers the change with Land Information New Zealand. You should do a final inspection just before settlement to check nothing has changed.

Key Facts

Purchase funds transferred between lawyers
Keys released to buyer
Legal ownership transfers
Registration with LINZ completed
Final inspection recommended morning of settlement
Usually occurs around midday

Example

Morning: Final inspection

Mid Morning: Lawyers transfer funds

Midday: Keys released

Afternoon: Ownership registered

Evening: You move in

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