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. New Zealand has four main types, each with different rights and responsibilities.
- Freehold (Fee Simple): The most common type, where you own the land and buildings.
- Leasehold: You own the building but lease the land from someone else, paying ground rent.
- Unit Title: You own your unit and share common property, managed by a body corporate.
- Cross Lease: You share ownership of the land and lease your specific dwelling.
Always have your lawyer review the record of title before purchasing.
Summary of important things to know
Freehold
Leasehold
Unit Title
Cross lease
Author
Discover More
Will Labour cancel ‘tax breaks for landlords’? Here’s what it could mean for rents and house prices
What Labour would do with tax on rental properties is one of the big unanswered questions of the election.
By Dylan Rhynd of DPRD Studio Architecture, this beachy St Heliers build is the place to be
The family home is full of light, luxe and textural touches for maximum health and happiness.
Search
Other articles you might like
