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
AI summary
Understanding property ownership is crucial when buying a home in New Zealand. The four main types each have different rights and responsibilities.
- Freehold (Fee Simple): The most common type, where you own the land and buildings.
- Leasehold: You lease the land from an owner and pay ground rent.
- Unit Title: You own a unit and share common property managed by a body corporate.
- Cross Lease: You share ownership of the land and lease your specific dwelling.
Always consult a lawyer to review the record of title.
Summary of important things to know
Freehold
Leasehold
Unit Title
Cross lease
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