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 New Zealand's property ownership types is crucial before buying. Each has unique rights and responsibilities, so always have your lawyer review the record of title.
The four main types are:
- Freehold (fee simple): The most common, 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 areas, managed by a body corporate.
- Cross Lease: You co-own the land and lease your specific dwelling.
Summary of important things to know
Freehold
Leasehold
Unit Title
Cross lease
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