CrossLeases & Freehold Titles
Crossleases Q: I am new to NZ and have been told I should be wary of cross-lease titles. What is a cross-lease exactly? Raymond W. A: Fee Simple cross-lease is not a leasehold title in the normal sense of the word. It is a freehold title that consists of an undivided share of the whole piece of land that the dwelling or ‘flats’ are built on, and a registered lease (Memorandum of Lease) for a fixed year period (usually 999 years) for each fl…
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