1) Fee simple: This represents a form of freehold ownership and in essence represents absolute ownership of the property.
2) Leasehold: This is a form of property tenure where one party buys the right to occupy land or a building for a given length of time. Until the end of the lease period the leaseholder has the right to remain in occupation as an assured tenant paying an agreed rent to the owner.
3) Cross lease: This is a hybrid form of multi-unit tenure in which each owner has an undivided share of the underlying freehold as tenants in common, and is granted a registered leasehold estate of the particular unit or flat occupied. Effectively the property owners share ownership of the land and each owner leases their building from the other owners, which together form the cross lease title.
4) Stratum estate: Under the Unit Titles Act 1972 the deposit of a unit plan has the effect of creating in each unit (usually multi-unit dwellings, shops, offices or industrial premises) a new kind of statutory estate called a stratum estate in freehold, or a stratum estate in leasehold, depending on whether the land which was subdivided into units was freehold or leasehold.作者: NewLynnHse 时间: 2011-11-21 21:19:47
Cross-lease (title)
This type of ownership is common where there is more than one property (often called flats) on a single title. The owners of each property co-own the land and each leases their own property, which together form the cross-lease title.
Freehold (title)
This form of title means that you own the land and the buildings on the property, with few restrictions (although the buildings are not shown on the title documents). It is the most common form of title in New Zealand.
Leasehold (Title)
Under this form of title, someone other than the occupier of the property owns the land and charges rent for a specific term to the lessee. Sometime buildings on the land belong to the lessee, subject to the terms of the lease. The lessee may have an option to purchase the freehold, giving them unrestricted title to the land in addition to the buildings. Your lawyer will advise you whether you are buying freehold, leasehold or another form of property ownership, as this will determine what you can do with the property and will affect the amount you pay.作者: NewLynnHse 时间: 2011-11-21 21:27:30