Property settlements in New Zealand run on working days. That sounds simple until you realise the ADLS/REINZ Agreement for Sale and Purchase uses its own definition of "working day" — one that excludes a regional anniversary day you might not have thought about, and one that has a Christmas exclusion period that is broader than many people realise.
Most settlement errors come from a small set of recurring traps. Here they are.
What "Working Day" Actually Means in the ADLS/REINZ Agreement
Clause 1.1 of the ADLS/REINZ Agreement for Sale and Purchase defines "Working Day" as any day of the week other than:
- a Saturday or Sunday
- a statutory public holiday
- the anniversary day of the province in which the property is situated
- any day in the period from 24 December to 5 January (inclusive)
That last clause is where people go wrong. The relevant anniversary day is the one for the region where the property is. Not the buyer's region. Not the seller's region. Not the region where either lawyer is based. The property's region.
This matters every time a transaction crosses regional lines. A buyer in Wellington purchasing an Auckland property needs Auckland's anniversary day (26 January 2026) excluded from their working day count. They might not notice — and if they miscounted by one day, they may be in breach.
Practical takeaway: Before counting a single working day, confirm the property's region and look up its 2026 anniversary date. It takes two minutes and prevents an embarrassing correction.
The Traps
Trap 1: The count starts the day after the trigger — not on it
When a clause requires something to happen "within 10 working days," the trigger date itself is day zero. Day one is the first working day after the trigger.
This is consistent across NZ property and contract law, but it still catches people who start counting from the trigger date and end up one working day short.
Practical takeaway: Write it in the file note: count starts [trigger date + 1 working day].
Trap 2: Auckland and Wellington anniversaries land in January — right when everyone expects a clean start to the year
Wellington Anniversary Day falls on Monday 19 January 2026. Auckland Anniversary Day falls on Monday 26 January 2026. Any working day count that runs through January for a property in those regions loses one Monday that most people assume is a normal working day.
The period from 2 January to late February looks like a straightforward stretch of working days. For Auckland and Wellington properties, it is not.
Practical takeaway: Run the calendar. If your 10-working-day count starts in early January and the property is in Auckland or Wellington, add one working day to your expected result.
Trap 3: April has three public holidays in 24 days — and they cluster
April 2026 is the tightest month of the year:
- Good Friday: 3 April
- Easter Monday: 6 April
- ANZAC Day observed: 27 April (Monday)
That is three excluded days between 3 April and 27 April. A settlement nominally "10 working days after 20 March" lands significantly later than it appears on a standard calendar. And if you miscounted ANZAC Day as falling on 25 April rather than the observed 27 April, your deadline shifts by two days.
Practical takeaway: In 2026, ANZAC Day is observed on Monday 27 April — not Saturday 25 April. The legal public holiday is the observed date.
Trap 4: The property's anniversary day is the one that applies — even if neither party lives there
If you are acting for a buyer in Christchurch who is purchasing a property in Queenstown, the relevant anniversary day is Otago Anniversary Day (Monday 23 March 2026), because Queenstown is in the Otago region. Canterbury Anniversary Day (13 November) is irrelevant.
This comes up with lifestyle blocks, investment properties, and rural land purchases where buyer and property are in different regions. It also comes up with some provincial towns that are in a different anniversary region than most people assume — parts of the South Island in particular.
Practical takeaway: Do not default to the client's anniversary day. Check which region the property's title address falls in.
Trap 5: Southland does something no other region does
Southland observes its anniversary day on the Tuesday after Easter Monday. In 2026, that is Tuesday 7 April — meaning Easter Monday (6 April) and Southland Anniversary (7 April) are back-to-back excluded days. A 10-working-day count spanning that period for a Southland property loses two consecutive days in early April, not one.
No other region creates this effect as a structural annual feature.
Trap 6: The Christmas and New Year exclusion is broader than you might expect
The ADLS/REINZ ASP working day definition excludes the period from 24 December to 5 January inclusive. This is separate from individual public holidays — the entire block is excluded, regardless of which days are weekdays. Combined with the weekends either side, this can create a gap of nearly two weeks where no working days are counted.
This exclusion is narrower than the RMA's (which runs from 20 December to 10 January) but broader than simply excluding Christmas Day and Boxing Day. Any working day count that runs through late December will jump from 23 December to the first weekday after 5 January.
In practice, settlement activity around this period is further limited by reduced bank processing, LINZ skeleton staffing, and lawyer availability.
Practical takeaway: If a working day count spans the Christmas period, the 24 December to 5 January block is fully excluded under the ASP definition. Plan for it — the deadline will land later in January than a naive calendar count suggests.
Trap 7: Settlement day has its own cut-off problem
Even when the date is right, settlement day has time constraints that working day calculations do not capture. Banks require electronic funds transfers to be initiated by a cut-off — typically around 3:30–4:00 pm. The vendor's lawyer must confirm receipt before releasing keys. LINZ e-dealing registration has its own processing window.
The day after ANZAC Day observed (Tuesday 28 April 2026) and the day after any long weekend will carry a backlog of settlements that were pushed forward by the holiday. If your settlement falls into that queue, mid-afternoon confirmation is optimistic.
Practical takeaway: If you are scheduling settlement for the first working day after a long weekend, initiate the bank transfer early and confirm with the other side that they will be processing promptly.
A Quick Count: Why Two Lawyers Can Reach Different Numbers
Here is a 10-working-day count from Friday 23 January 2026 for two properties in different regions:
Wellington property — Wellington Anniversary (19 Jan) has already passed, so no anniversary exclusion applies during this count. Waitangi Day (6 Feb) falls on Day 10:
| Date | Day | Status | |
|---|---|---|---|
| Trigger | Fri 23 Jan | — | Start |
| Day 1 | Mon 26 Jan | Working day | ✓ |
| Day 2 | Tue 27 Jan | Working day | ✓ |
| Days 3–9 | Wed 28 Jan – Thu 5 Feb | Working days | ✓ |
| — | Fri 6 Feb | Waitangi Day | Excluded |
| Day 10 | Mon 9 Feb | Working day | Settlement |
Auckland property — Auckland Anniversary (26 Jan) falls on Day 1, pushing everything forward by one day. Waitangi Day then falls on Day 9:
| Date | Day | Status | |
|---|---|---|---|
| Trigger | Fri 23 Jan | — | Start |
| — | Mon 26 Jan | Auckland Anniversary | Excluded |
| Day 1 | Tue 27 Jan | Working day | ✓ |
| Days 2–8 | Wed 28 Jan – Thu 5 Feb | Working days | ✓ |
| — | Fri 6 Feb | Waitangi Day | Excluded |
| Day 9 | Mon 9 Feb | Working day | ✓ |
| Day 10 | Tue 10 Feb | Working day | Settlement |
Same starting date, same clause, same 10 working days. The Wellington property settles on Monday 9 February. The Auckland property settles on Tuesday 10 February. If both lawyers did their count in isolation without checking the other's region, the discrepancy would surface at the worst possible moment.
Frequently Asked Questions
Q: What is the default settlement period under the ADLS/REINZ Agreement for Sale and Purchase?
A: The settlement period is negotiated and inserted at signing — there is no single fixed default. Ten to twenty working days is common in residential transactions. Various notice and condition periods within the agreement are also expressed in working days.
Q: Which anniversary day applies to a property settlement?
A: The anniversary day for the region in which the property is situated, as defined in clause 1.1. The parties' own regions are irrelevant.
Q: What happens if the settlement date falls on a non-working day?
A: Under the standard ADLS/REINZ ASP wording, if the settlement date is not a working day, settlement is brought forward to the last working day before the nominated date. This is the opposite of what many people assume — the date moves earlier, not later. Verify the adjusted date does not create its own problem.
Q: Does the Easter date change each year?
A: Yes. Good Friday and Easter Monday are calculated from the lunar calendar and shift by up to a few weeks between years. A 10-working-day count spanning late March or early April must be recalculated each year — the previous year's result is not a reliable guide.
Q: Can settlement happen between Christmas and New Year?
A: No — the standard ADLS/REINZ ASP excludes the entire period from 24 December to 5 January from its working day definition. Settlement cannot be scheduled on those days. If a deadline would otherwise fall in that period, it will land after 5 January (or be brought forward to 23 December if the rollover rule applies).
Q: How do I count 10 working days from today?
A: Use the NZ Working Day Calculator. Set the start date, select "10 working days forward," and enable the regional anniversary for the property's region. The result is your target settlement date. Open the calculator →
Q: What if the buyer is in Auckland and the property is in Wellington?
A: Wellington Anniversary Day applies. The buyer's region is irrelevant for this purpose — the clause specifies the property's province, not the parties' locations.
Sources & Further Reading
- ADLS/REINZ Agreement for Sale and Purchase — available from ADLS and REINZ
- Land Information New Zealand — e-dealing
- Real Estate Authority NZ — buying and selling property
- Employment New Zealand — regional anniversary days
- Holidays Act 2003
This guide is for general information only and does not constitute legal advice. Property transactions involve significant legal and financial obligations — always seek advice from a qualified NZ solicitor.