Cross leases were a popular form of ‘subdivision’ created by lawyers dating back to the 1960s, initially intended to circumvent planning requirements and avoid conventional subdivision contributions. However, the test of time has shown significant flaws in cross lease ownership that have generated ongoing issues with this form of land tenure, resulting in the Law Commission describing them as “irremediably flawed” and leading to loss of value when compared to equivalent freehold titles.
Converting a cross lease can lead to a range of benefits including increased property value, greater flexibility to redevelop or modify your home without being blocked by neighbours or ending up with a defective title, and avoidance of complex legal disputes related to cross lease terms.
Visit our dedicated cross lease website to learn more: https://civixcrosslease.co.nz/
A defective cross lease title can arise where the buildings and areas on a cross lease no longer match those shown on the flats plans. Further complexities can arise if the changes to the buildings were conducted without obtaining the required consents from Council, or approval from the other owners on the cross lease.
As the name suggests, a defective title can be a serious issue that may affect the ability to obtain lending on the property and substantially reduce the potential sale price. Civix’s experts can swiftly remedy this, maximising value for vendors and mitigating issues for purchasers.
While we can readily assist with flats plan updates if this is your preferred approach, we generally recommend investing in a full cross lease conversion instead to help avoid future issues associated with cross lease titles.
Visit our dedicated cross lease website to learn more: https://civixcrosslease.co.nz/
For private land developments, Civix Town Planners, Chartered Engineers and Licensed Cadastral Surveyors have got you covered from the initial site visit through to council sign off.
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