Hi Guys,
I am looking at a unit in Auckland that price has been dropped by 100k over the past 6 months. I have a question that I'm assuming will be a simple one for most on here: on the "title" document, it says the unit is a "title: 1/3 share fee simple" however, underneath it says "estate: leasehold" and then "999 years computed from 1969".
Does this mean this property is leasehold? Or is this normal for every unit where you "share" the land? I've seen this on unit titles before but never bought one. They are wanting late 500s for the unit.
I hope my question lay out isn't to confusing for a Friday
Cheers
I am looking at a unit in Auckland that price has been dropped by 100k over the past 6 months. I have a question that I'm assuming will be a simple one for most on here: on the "title" document, it says the unit is a "title: 1/3 share fee simple" however, underneath it says "estate: leasehold" and then "999 years computed from 1969".
Does this mean this property is leasehold? Or is this normal for every unit where you "share" the land? I've seen this on unit titles before but never bought one. They are wanting late 500s for the unit.
I hope my question lay out isn't to confusing for a Friday
Cheers
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