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 in New Zealand is key to buying a home. There are four main types, each with different rights and responsibilities: freehold, leasehold, unit title, and cross lease.
Freehold is the most common, where you own the land and buildings. Leasehold means you occupy the property for a set term but don't own the land. Unit titles involve owning a unit, sharing common property, and being part of a body corporate.
Always have your lawyer review the property’s record of title.
Summary of important things to know
Freehold
Leasehold
Unit Title
Cross lease
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