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Convert your Cross-lease property to Freehold with Envivo
Envivo’s multi-disciplinary team of surveyors, planners and engineers can convert your Cross-lease property to Freehold. For many years Cross-lease titles were the most popular form of land subdivision for small to medium size projects and developers. Cross-lease titles were particularly popular in Auckland and Canterbury, as they were quick and cost effective to complete and for a period of time did not attract any financial contributions to the local authority.
A Cross-lease is where several people own an undivided percentage share in a piece of land and the homes that they build on the land are leased from the other land-owners (normally for a term of 999 years).
It is well documented though, that this form of title and ownership has some major challenges and the property market recognises this – if two identical properties were being marketed, one on a Cross-lease and the other a Freehold title, the latter would always attract the premium.