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In New Zealand, "fee simple" refers to a type of ownership in which an individual or entity owns a property outright and has the right to use, sell, or dispose of the property as they see fit. This is the most common form of property ownership in New Zealand.
"Freehold" is another term that is sometimes used to describe ownership of property in New Zealand. It generally refers to ownership of land and any structures or improvements on the land, such as a house or other building. The owner of a freehold property has the right to use, sell, or dispose of the property as they see fit, without any restrictions or conditions.
There is some overlap between the terms "fee simple" and "freehold," and they are often used interchangeably. However, "fee simple" is more commonly used in New Zealand to describe ownership of property, while "freehold" is more commonly used in other parts of the world. |
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