Cross Lease Conversion to Freehold Title
Own and control your own asset
Converting a cross lease title to a freehold (fee simple) title provides separation away from other owners. This allows all owners to control, protect and manage their own individual assets fully. All services will be separate (or provided with appropriate easements) so any ownership or maintenance issues will be free from potential disagreements.
What are the issues with a cross lease title?
As all home owners on the land in question own the land, if one party wants to make changes to their dwelling or site - they have to ask the permission of the other owners.
As well as needing to get permission of the other parties, the survey plan and title will need to be updated for all changes that occur on the property. These are additional costs, which are not required for freehold title owners.
There are generally shared driveways and services, which can potentially cause issues around ownership, maintenance and upgrades as all parties will have their say in all situations.
Cross leases can also be seen as lower value when selling as buyers and banks prefer freehold titles.
The cross lease conversion process
Conversion generally requires:
A topographic survey of the location of all services, buildings, fence structures.
Plans drawn up of boundary positions and separation of services.
Subdivision Consent application lodged to Council for their approval.
Physical works to locate and ensure they are in working condition, and if required to separate services.
Survey of new boundary positions in a Land Transfer Survey and new property tiles created by a lawyer and Land Information New Zealand.
Our experienced team of in-house planners, engineers, surveyors and property law specialists manage the process for you. Once complete, you’ll own a parcel of land which is entirely yours.
Add value to your property by converting your cross lease
A major benefit of the Auckland Unitary Plan is the option to convert your cross lease into a freehold title. Then subdivide this new freehold title, to create additional dwellings and allotments.
A freehold title is often considered more attractive and valuable than a cross lease title property