Converting to Freehold Titles

Property owners are discovering the advantages of converting their cross-lease, or unit titles, to freehold titles. This can increase property value, provide greater flexibility, and offer more control without the constraints of cross-lease, or unit title agreements. However, the process can be complex, particularly if disagreements arise with the other cross lease, or unit title owners.

Keys Considerations:

1. Legal Procedures:
• Engage a surveyor to conduct a title survey to confirm property boundaries and details.
• Obtain consent from other cross-lease or unit owners for the conversion and have an agreement signed by all parties before applying to Council for consent.
• Obtain a resource consent decision from Council for the conversion.
• Prepare and submit the necessary documents to the land registry (LINZ) for approval.

2. Costs:
• Survey Fees: Scheme plan and Land Transfer Plan.
• Legal Fees: Costs legal advice and drafting, and LINZ fees.
• Council: Costs for resource consent decision.
• Valuation and Compensation: Property valuation to determine compensation payable to other cross-lease owners (if any).
• Valuation for cancellation of unit titles: The valuation determines the value of the units and is a necessary part of the application process for cancelling the unit title.

How we can help.

Our Property Team provides expert guidance throughout the conversion process, including:

• Agreement Preparation
Drafting an agreement between the other cross-lease or unit title owners, to outline cost contributions, work scope, consideration payable (if applicable).

• Liaison Services
Coordinating with planners, surveyors, valuers, LINZ, neighbours and their solicitors, banks, and the Council (if necessary).

• Legal Documentation
Preparing all required legal documents to obtain new freehold titles. 

Maximise you property’s potential to make it a more valuable asset. Get in touch to discuss how we can assist you in converting your property to a freehold title.

Contact us