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NZ Guide To Financial Freedom

303 EpisodesProduced by Ryan J Melton & Greg MoyleWebsite

Everything you need to know about business, money, and life. https://ryanjmelton.co.nz/

6:53

Ep 177: Four Ways To Own Property

"There are different types of land ownership in New Zealand. The type of ownership has a direct impact on what you can and cannot do with the property. There are four main types of property ownership in New Zealand – freehold, leasehold, unit title and cross lease.

Freehold, also known as fee simple, is the most common ownership type in New Zealand. Leasehold is when someone else owns the land. You purchase an exclusive right to possession of the land and the buildings on it for a specific period of time according to the terms of the lease. Unit title ownership is most common in a building development where there are multiple owners. In a cross lease, you own a share of the freehold title in common with the other cross leaseholders and a leasehold interest in the particular area and building that you occupy." Source: https://www.settled.govt.nz/buying-a-home/finding-a-property/understanding-types-of-ownership/

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