Buying guide

Understanding the types of ownership

There are different types of land ownership in New Zealand. Here are some tips from Settled.govt.nz

Settled.govt.nz
AI

AI summary

New Zealand has four main property ownership types, each with unique rights. Freehold (fee simple) is most common, giving you ownership of the land and buildings. With Leasehold, you own the right to occupy but lease the land.

Unit Titles involve owning a unit and sharing common areas managed by a body corporate. Cross Leases mean you share land ownership and lease your specific dwelling. It is crucial to review the record of title with your lawyer before purchasing.

Summary of important things to know

Freehold

Leasehold

Unit Title

Cross lease

Author

Settled.govt.nz Settled.govt.nz