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 distinct rights and responsibilities.
- Freehold (fee simple): The most common type, where you own the land and buildings.
- Leasehold: You purchase the right to occupy for a set period, paying ground rent to the landowner.
- Unit Title: You own your unit and a share of common property, managed by a body corporate.
- Cross Lease: You co-own the land and lease your specific dwelling.
Always have your lawyer review the record of title to understand your specific rights and restrictions before purchasing.
Summary of important things to know
Freehold
Leasehold
Unit Title
Cross lease
Author
Discover More
Coast to Coast founder went for a walk one morning in his pyjamas. He came home having bought a house
Robin Judkins bought a rundown Sumner home on a whim and transformed it into a creative retreat.
Four ovens, multiple fridges and a 13-metre wall: Inside NZ’s best new kitchen
Explore NZ’s award-winning Te Arai kitchen, with a sculptural island and 13m wall of oak joinery.
Search
Other articles you might like
